Terna Energy to acquire Tri Global’s 380MW wind energy project in US
Terna Energy, a member of GEK Terna group of companies, has acquired a 380MW wind energy project from Tri Global Energy in Texas, US.
Terna Energy, a member of GEK Terna group of companies, has acquired a 380MW wind energy project from Tri Global Energy in Texas, US.
Terms of the deal have not been disclosed.
The Fluvanna wind energy project will be constructed in phases, with the first phase expected to be operational in 2017.
As part of the deal, Tri Global will work with Terna during the construction phase, up to the time when the project reaches commercial operation.
"Community-sponsored wind projects have been shown to create more jobs and greater local economic benefit."
Expected to provide electricity to around 110,200 homes, the Fluvanna project will be developed on around 32,000 leased acres of privately owned farm and ranch land.
The project was designed under Tri Global’s proprietary business model, wind force plan, which enables local landowners and community investors to partner with and have a substantial ownership in the wind project development that leased their land.
Tri Global Energy chairman and CEO John Billingsley said: "Community-sponsored wind projects have been shown to create more jobs and greater local economic benefit.
"Through our partnerships with the community managers and more than 130 landowners and community investors participating in the Fluvanna project, we’ve been able to work together to bring about a high level of local support and attention for wind energy."
Recently, Tri Global Energy has also divested the wind development assets of Hale Community Energy to a subsidiary of NextEra Energy Resources.