The Canyon Wind project was developed through Tri Global’s community sponsorship business model, the Wind Force Plan
US-based renewable company Tri Global Energy has agreed to sell the 360MW Canyon wind farm in Texas to an alternative investment firm Silverpeak for an undisclosed amount.
Located on 38,000 acres of flat farm and ranch land owned by nearly 150 participating landowners, the Canyon Wind project was developed through Tri Global’s community sponsorship business model, the Wind Force Plan.
Tri Global Energy Chairman and CEO John Billingsley said: “Among West Texas’ greatest assets are world-class wind and the many benefits wind energy brings to the region.
“We are excited about reaching this new milestone for our Canyon wind energy project.
“We look forward to an active partnership with Silverpeak. Texas continues to be a great place to do business for the development of the growing clean energy pipeline.”
Tri Global Energy will continue to be as the lead developer and manager of the project during the financing and construction phase.
Silverpeak managing Partner and head of Silverpeak’s renewables group Santosh Raikar said: “It is a pleasure to partner with Tri Global, an experienced renewable energy developer that has already brought value to the project.
“We are particularly excited about this development being situated on the ‘right’ – or eastern – side of ERCOT West, which is devoid of transmission congestion that could affect the pricing and return for producing reliable, economical, and eco-friendly electric power.”
Tri Global Energy sold 231MW Changing Winds project to Invenergy in September
In September, Tri Global Energy announced the sale of the wind development assets of its 231MW Changing Winds project in Texas to Invenergy.
Located on 25,000 leased acres of privately owned farm and ranch land in Castro County, Texas, the Changing Winds project is about 80 miles (128.7km) northwest of Lubbock.
Headquartered in Dallas, the company currently develops and owns utility-scale wind projects in Texas, Nebraska, Illinois and other US locations.