Tri Global Energy will divest the 80MW Fiber Winds Energy Project in Texas to Lorenzo Wind, a subsidiary of NextEra Energy Resources for an undisclosed price.
NextEra Energy, under a long-term power purchase agreement which it signed in March with Xcel Energy, will sell the power generated from 230MW of its capacity including the production from Fiber Winds.
The Fiber Winds Energy wind farm is spread across 10,500 acres on the outskirts of Lubbock.
Located in Crosby County, the Fiber Winds Energy Project is the second phase of the 150MW Crosby County Wind Farm which was initiated by Tri Global Energy in 2009.
The first phase of Crosby County Wind Farm was commissioned in 2014. Two years later, its third phase had qualified for the federal Production Tax Credit, and is planned to be commissioned by 2020 end.
Tri Global Energy chairman and CEO John Billingsley said: "We are pleased to expand our NextEra collaboration, which began in 2015 with the sale of the 800+ MW Hale Wind Energy Project, and to see NextEra's continued recognition of our high-quality wind energy development efforts.
"We look forward to supporting NextEra in commencing project construction following regulatory approvals for both Fiber Winds Energy and Hale Wind Energy.
Billingsley concluded that Fiber Winds wind farm had created significant economic impact to the host region including generating funds for it through additional tax revenue, job opportunities, landowner royalties among other contributions.
Last month, Tri Global Energy broke ground on the initial phase of 197.6MW Bearkat Wind Energy Project in Glasscock County, Texas. While Tri Global is the developer of the project, a fund managed by Copenhagen Infrastructure Partners (CIP), based in Denmark is its owner.
Image: Tri Global Energy CEO John Billingsley (right) meeting with U.S. Congressman Jodey Arrington (left). Photo: courtesy of Tri Global Energy, LLC.