Bitter Ridge wind farm is the fourth utility-scale wind project constructed by Scout Clean Energy
Scout Clean Energy is a portfolio company of Quinbrook Infrastructure Partners. (Credit: Ed White from Pixabay)
Scout Clean Energy has completed tax equity funding and the construction of the 130MW Bitter Ridge Wind Farm in Jay County, Indiana.
The Colorado-based renewable energy developer, owner and operator is a portfolio company of Quinbrook Infrastructure Partners.
Scout had started greenfield development work on the project in 2016 and after completion of permitting and procurement activities, construction started in August last year.
Bitter Ridge wind farm is the fourth utility-scale wind project constructed by Scout Clean Energy.
Details of the Bitter Ridge Wind Farm project
The wind farm will feature GE 2.82MW wind turbine.
Once the Bitter Ridge wind farm reaches the commercial operational stage, Scout’s operational portfolio of onshore wind energy generation will expand to 843MW, spanning three power markets of ERCOT, PJM and SPP. More than 4,000MW of projects are in active development pipeline stage across the wind, solar PV, and battery storage segments.
Scout Clean Energy founder Michael Rucker said: “We were able to complete the project safely and still meet most of our schedule.
“The success is a real credit to Scout’s construction management team, our suppliers, contractors and financiers who have worked tirelessly to get Bitter Ridge completed, especially under the difficult circumstances and widespread disruption caused by the COVID-19 pandemic.”
Rucker further added: “Safety is always our number one priority, and we are proud to report that – due to diligent health and safety measures put in place for the protection of all workers – construction was completed without a single case of the COVID-19 virus being contracted on-site.
“Several supply chain challenges were also resolved through effective teamwork and collaboration with our contractors and key equipment suppliers. To complete construction without any material delays to the project schedule is significant and we thank all those involved for their outstanding efforts.”
As per EPA’s Greenhouse Gas Equivalency Calculator, the wind farm is expected to reduce the emission of CO2 by 292,000 metric tonnes every year. During its operational period, the wind farm is estimated to reduce the emission of 10 million metric tonnes of CO2.
Constellation, an Exelon company, will purchase the renewable energy generated by Bitter Ridge through a 15-year power purchase agreement (PPA) with Scout.
Scout also entered into a fixed-price balance-of-plant construction agreement with Mortenson Construction, which completed the work as per schedule.
Scout will undertake the farm’s asset management and post-construction operations.
KeyBanc Capital Markets served as coordinating lead arranger, joint lead arranger, sole bookrunner and administrative agent for the project.
CoBank, ACB and Rabobank acted as joint lead arrangers for the $213m construction financing of the farm.
BHE Renewables offered tax equity funding for the wind farm project.
McDermott Will & Emery and Paragon Energy Capital acted as Scout’s advisor on the debt and tax equity financing transactions.