The renewable projects include 180MW Hoosier Line Wind project and the 400MW Honey Creek Solar project
US-based utility-scale renewable energy developer Tri Global Energy (TGE) has agreed to divest 580MW of its renewable energy projects in Indiana to Leeward Renewable Energy.
The renewable projects to be sold include 180MW Hoosier Line Wind project and the 400MW Honey Creek Solar project, located in White County in northwestern Indiana.
The wind and solar power projects are anticipated to be operational by 2023.
TGE said that the agreement represents the first deal between the two Dallas-based companies and its first renewable project sales in Indiana.
Tri Global Energy chairman and CEO John Billingsley said: “Hoosier Line Wind and Honey Creek Solar represent a significant milestone for TGE, our first expansion to Indiana.
“We couldn’t be more excited to begin a new relationship with Leeward, whose leadership shares our commitment to develop and expand clean energy and to invest in the advancement of local communities.”
Tri Global Energy has been the project developer for Hoosier Line Wind and the Honey Creek Solar projects, since their origination in 2019.
Under the sale arrangement with Leeward Renewable Energy, the company is expected to continue as a co-development partner for the projects.
Great Bay Renewables, a joint venture between certain funds managed by affiliates of Apollo Global Management, and Altius Renewable Royalties is providing financing to Tri Global Energy for completing the construction of the projects.
In October last year, Tri Global Energy and Copenhagen Infrastructure Partners started commercial operations of the 162MW Bearkat II project in Glasscock County, Dallas.
Leeward is a renewable energy company that owns and operates a portfolio of approximately 2GW.
Leeward Renewable Energy CEO Jason Allen said: “We are pleased to reach agreement with Tri Global Energy to acquire these well-planned development assets, and to partner with Tri Global on their continued development.
“The projects accelerate our efforts in the Indiana market and are highly complementary to our aggressive growth strategy across the U.S.”