View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
April 21, 2014

Wind Capital sells 150MW Osage project to TradeWind for $60m

Wind Capital Group, a subsidiary of renewables investment group NTR, has sold its 150MW Osage wind farm, located in Oklahoma, US, to TradeWind Energy for $60m.

Wind Capital Group, a subsidiary of renewables investment group NTR, has sold its 150MW Osage wind farm, located in Oklahoma, US, to TradeWind Energy for $60m.

The project, which started construction in autumn 2013, is due to begin commercial operations in 2015.

According to the company, the total electricity generated by the project will be sold to Associated Electric under a long-term power purchase agreement.

To be equipped with 94 GE 1.6MW wind turbines, the project will provide over $30m in property tax revenues to Osage County, long-term lease payments to local landowners, and $1.5m in regional business activity during construction.

Once completed, the project will generate enough electricity to power approximately 50,000 homes while saving around 605,000t of carbon dioxide annually.

The Osage wind farm is expected to create 250 critical on-site construction jobs and 12-15 permanent jobs during operation.

"TradeWind are active participants in the Midwest and saw the value of a quality wind project which is in an advanced stage of development."

NTR CEO Rosheen McGuckian said that the company has obtained a very satisfactory value for the Osage project through the deal with TradeWind Energy.

"TradeWind are active participants in the Midwest and saw the value of a quality wind project which is in an advanced stage of development," McGuckian added.

The company said the latest transaction marks its successful transition from a project development oriented firm to a wind investment and operations firm.

Wind Capital operates and manages a portfolio of more than 350MW wind projects and is also pursuing other opportunities to enhance its business in the wind sector.

Nri

Related Companies

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