Alterra Power, a renewable energy company, in partnership with Starwood Energy Group Global, has commenced commercial operations and funding of tax equity for the 204 MW Shannon wind project.
The project is located in Clay County, Texas and was constructed under an EPC contract with Mortenson Construction’s Wind Energy Group.
GE has supplied 119 wind turbines (1.71 MW output, 103m rotor diameter) for the project, and will provide operations and maintenance services for the turbines under a long-term contract.
The majority of the project’s output will be sold under a 13-year contract with Citi. Alterra and Starwood Energy own the sponsor interests in the project under a 50/50 affiliate partnership.
Concurrent with commercial operations, subsidiaries of Citi and BHE Renewables have completed a tax equity investment of US$219 million into the project of which proceeds were used primarily to retire the project’s construction loan facility.