CIP to invest $80m in onshore wind farm in Texas, US

12 March 2019 (Last Updated March 12th, 2019 15:40)

Copenhagen Infrastructure Partners (CIP), through its Copenhagen Infrastructure II fund, has announced its plans to make a net equity investment of nearly $80m for the construction of 162.2MW Bearkat II onshore wind farm in Glasscock County, Texas.

Copenhagen Infrastructure Partners (CIP) has announced plans to make an equity investment of nearly $80m for the construction of the Bearkat II onshore windfarm in Texas.

This is the fifth project in its portfolio of US onshore wind assets, with a total capacity of 821 MW.

The project is expected to produce electricity equivalent to the annual power requirement of over 56,000 average US households.

The windfarm qualifies for 100% of production tax credits (PTC) and will be equipped with 47 V126-3.45MW Vestas turbines and is expected to begin commercial operations in December 2019.

According to CIP, one or maybe more tax equity investors will enter the project after it begins commercial operations to provide the remaining capital.

“We look forward to the project coming online later this year to create local jobs and help reduce carbon emissions by delivering clean, renewable wind energy.”

Bearkat II has been co-developed with the Dallas-based TriGlobal Energy, and the balance of the plant (BOP) will be completed by contractor Black & McDonald.

CIP senior partner Christian Skakkebæk said: “We are very pleased to announce our investment in the Bearkat II wind project, which demonstrates our continued commitment to investing in best-in-class renewable energy projects in the US.

“This achievement would not be possible without the support of our local partner, TriGlobal Energy, and the continued cooperation with Vestas and Black & McDonald.

“We look forward to the project coming online later this year to create local jobs and help reduce carbon emissions by delivering clean, renewable wind energy.”

Vestas has agreed to provide operational and maintenance services for the turbines under a 30-year service agreement.

Once the power plant becomes operational, the electricity generated by it will be sold to the ERCOT power market.