The proposed wind power project will be backed by a funding from GE Energy Financial Services and Citigroup.
Panhandle Wind Project, which is slated for completion in August 2014, will feature 118 GE 1.85MW, 87-meter turbines. Mortenson Construction will supervise the construction of the project.
The clean electricity generated at the project will be purchased by Citigroup Energy, under a long-term hedge offtake agreement.
Commenting on the project, GE Energy Financial Services Power and Renewable Energy managing director Kevin Walsh said that the investment being made in Panhandle Wind Project will enable the company to expand its wind portfolio.
Pattern Energy CEO Mike Garland said, "Through our use of GE turbine technology and our partnership with financial institutions GE Energy Financial Services and Citigroup, we are harnessing the abundant wind resource of the Texas Panhandle to generate clean energy and to benefit the local communities.
"Panhandle Wind is creating more than 200 construction jobs and, over the project’s life, will contribute millions of dollars through a community benefits program and property taxes to Carson County, the White Deer and Panhandle School Districts, and the Panhandle Groundwater Conservation District."
In addition, Pattern Energy has received construction loans from BayernLB, Credit Agricole Corporate and Investment Bank, Nord/LB, Landesbank Baden-Wuerttemberg, RBC, RBS and Societe Generale.
