BayWa r.e. Wind LLC, a global developer, service supplier, distributor and energy solutions provider, has secured a tax equity commitment from a consortium led by GE Energy Financial Services for its 250 MW Amadeus Wind project located north of Rotan, Texas.
The project has also executed a hedge agreement with Morgan Stanley and closed on a construction loan with Commerzbank. The project is already in construction and is expected to be placed in service in the fourth quarter. BayWa has utilized 5% safe harbor equipment to qualify the project for 100% PTC.
Once operational, the project will deploy GE wind turbines across nearly 25,000 acres of federal, state and privately held lands.
Due to the location of the project, Amadeus is expected to have little to no curtailment or basis risk. In line with its business model, BayWa engaged Rubicon Advisors to divest its non-tax equity membership interests at COD and is being advised by Greenberg Traurig LLP.
Original source: North American Wind Power