Fengate Asset Management announced the acquisition of the ready-to-build 160 MW Prairie Switch Wind project located outside of Houston, Texas — from Triple Oak Power.
The Prairie Switch Wind project will utilize 48 of GE Renewable Energy’s 3.4 MW wind turbines and is expected to be fully operational by the end of 2023.
Fengate and Meta Platforms signed a power purchase agreement (PPA) for 100 percent of the project’s production. The project will provide wind energy to support Meta’s operations. Prairie Switch Wind is located near the city of El Campo in Wharton County.
“Meta is committed to accelerating the renewable energy transition and, since 2020, we have supported our global operations with 100 percent renewable energy,” said Urvi Parekh, Director of Renewable Energy at Meta. “We appreciate Fengate’s partnership in helping us bring this new wind energy in support of our operations in the area.”
“GE Renewable Energy is providing our latest 3.4MW wind turbines for the Prairie Switch Wind project,” said Vic Abate, Chief Executive Officer, GE Renewable Energy’s Onshore Wind business. “It offers ease of installation and reliability while helping our customers to provide affordable and sustainable renewable energy.”
Fengate is managing this investment as part of the firm’s renewable energy strategy on behalf of its investors, including an investment fund owned by LiUNA’s Pension Fund of Central and Eastern Canada.