Capital Dynamics and Prudential Capital has announced the financial closing of the first phase of a 300 megawatt (MW) onshore wind project in Texas.
Green Pastures is expected to generate enough electricity to power 110,000 homes neutralizing 813,000 metric tons of greenhouse gas emissions per year.
This project is scheduled to be completed in two phases of 150 MW each. It is located on 18,000 acres in Baylor and Knox Counties in North Texas.
Green Pastures will sell power to the state owned Electric Reliability Council of Texas, and the project has entered into a long-term arrangement with a large financial institution.
This project has signed a turbine supply agreement with ACCIONA Wind power and will utilize one hundred AW 116/3000 turbines. In addition, it has also entered into a 10-year operations and maintenance contract with ACCIONA.
Green Pastures is the latest example of commitment to clean energy in the UK, Australia and North America, said, John Breckenridge, managing director, Capital Dynamics.
Capital Dynamics cumulative wind power projects now exceed 350 MW in various stages of construction and late-stage development, said, Stefan Ammann, CEO, Capital Dynamics.
Green Pastures is an attractive opportunity to partner with Capital Dynamics, a committed partner with an experienced team, said, Ric Abel, managing director, Prudential Capital.
This project is the latest example of Prudential Capital Group’s initiative to make mezzanine and equity investments in power projects, added Abel.
Green Pastures is Capital Dynamics’ first onshore wind project in the United States and fourth in the world.