View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 12, 2019

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

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.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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.

Related Companies

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology