TGE sells 80MW Fiber Winds Energy Project in US to Lorenzo Wind
US-based energy utility developer Tri Global Energy (TGE) has completed the sale of its 80MW Fiber Winds Energy Project in Crosby County, Texas.
The project will be sold to NextEra Energy Resources’ wholly-owned subsidiary Lorenzo Wind for an undisclosed sum. NextEra has also signed a long-term power purchase agreement with Xcel Energy in March this year. The company will be able sell 230MW of power to Xcel Energy, which includes Fiber Winds energy production.
As part of its 1,230MW Texas-New Mexico wind energy initiative, Xcel Energy will purchase other development assets from NextEra, including the 478MW Hale Wind Energy Project, developed by TGE.
TGE's chairman and chief executive officer (CEO) John Billingsley said: “We look forward to supporting NextEra in commencing project construction following regulatory approvals for both Fiber Winds Energy and Hale Wind Energy.
“Like many other wind energy projects in West Texas, Fiber Winds has provided substantial economic impact to the local host area and that includes funds from additional tax revenue, landowner royalties, and other contributions, such as the creation of local jobs.”
The Fiber Winds Energy is situated across 10,500 acres of leased farmland and represents the second phase of the Crosby County windfarm, TGE’s community-sponsored energy development initiated in 2009.