US-based renewable energy company First Wind has secured $206m in financing for the development of Route 66 Wind project in Armstrong and Carson counties, Texas.

ctbr

With Morgan Stanley and Santander acting as joint lead arrangers, Route 66 Wind Power, a subsidiary of First Wind, closed on a $206m financing agreement for the Route 66 project.

The company will continue engineering and construction activities on the project, with financing closed for the renewable energy project.

The wind farm, which is expected to generate around 150MW of electricity, will supply power to the Electric Reliability Council of Texas (ERCOT).

Vestas will supply 75 V110 turbines with a capacity of 2MW each to the project near Amarillo.

First Wind CEO Paul Gaynor said the financing is an important milestone for the construction of Route 66 Wind.

"We are glad to be able to make a direct investment into the local economy throughout the construction and successful operations of the project," Gaynor added.

First Wind, which develops, finances, builds and operates utility-scale renewable energy projects, has wind projects in Maine, Vermont, New York, Utah, Washington and Hawaii.

Image: First Wind has secured $206m finance to build Route 66 Wind project in Texas. Photo: Courtesy of pakorn/ FreeDigitalPhotos.net.