The I Squared Capital’s portfolio company has secured construction and term financing from Morgan Stanley, while long-term tax equity is being provided by BHE Renewables for the project.
The wind farm will be located in Lynn County, Texas. GE will deliver 120 of its 2.5-127 wind turbines for the project and provide long term services, once the wind farm begins operations.
Lincoln Clean Energy founder and CEO Declan Flanagan said: “The successful financing of this project underlines the competitiveness of US wind power.
“With the uncertainty of tax reform behind us, the next three years are going to be big for renewables and LCE is well-positioned to execute on more than 1,000 megawatts of advanced-stage development projects across Texas and the Midwest.”
Since 2011, LCE has developed more than 1.8GW of renewable projects across California, New Jersey, and Texas.
I Squared Capital partner and LCE director Adil Rahmathulla said: “I Squared Capital is proud to be at the forefront of the transition to renewable energy in the United States.
“Combined with the recently commissioned Amazon Wind Farm Texas and Willow Springs Wind Farm, LCE will generate approximately 3.3 million megawatt-hours of renewable energy per year, or enough to power the equivalent of over 300,000 US homes.”
Recently, in November, LCE began commercial operations of 250MW Willow Springs Texas wind farm. This wind farm generates around 1 million MWh of renewable electricity per year. Last year, the company installed a total of 503MW of wind energy, which can be supplied to 180,000 homes annually.
Image: Lincoln Clean Energy secures finance to construct 300MW wind farm. Photo: Courtesy of cristina miguel/FreeImages.com.
