Pattern Energy Group LP, a privately-owned developer and operator of wind, solar, transmission and energy storage projects, has completed financing and has started construction of its 105 MW DC Phoenix Solar Project located in Fannin County, Texas. ING Capital LLC provided construction and term project financing and tax equity was provided by RBC Community Investments, a subsidiary of RBC.
“This project is a win-win for Fannin County residents as it creates many benefits, including up to 200 jobs and more than $15 million in revenue for local schools and the county,” says Mike Garland, CEO of Pattern Energy.
“Phoenix Solar is one of many solar projects we have in development across Texas and around the world. Clean energy projects make sense for communities because they are the cheapest form of new power and their investments return jobs, growth and positive economic impact in the rural areas where they are developed,” he adds.
Phoenix Solar is expected to be completed in mid-2021. The project has a 12-year power purchase agreement with Digital Realty, a global provider of carrier- and cloud-neutral data center, colocation and interconnection solutions.
Fannin County will recognize both immediate and long-term economic benefits from the project. Phoenix Solar is projected to provide more than $12 million in new tax revenue to the Bonham Independent School District and more than $3 million to Fannin County over the life of the project. Additionally, the project will contribute revenue in the form of long-term lease payments to project landowners.
Pattern Energy acquired the development rights to the Phoenix Solar project in 2018 from Alpin Sun, a solar developer. The project expands Pattern Energy’s existing operating platform in Texas where the company has 871 MW of wind power in operation at four facilities across the state.
Photo: Pattern Energy’s landing page