RWE Renewables has completed the tax equity financing of its 151 MW Peyton Creek Wind Farm in Matagorda County, Texas.
A subsidiary of Bank of America provided the tax equity financing for the Peyton Creek project. The project achieved commercial operation and closing of tax equity in the first quarter of the year.
“Our successful financing of this project showcases our commitment to the development of wind energy,” says Silvia Ortin, COO of onshore wind at RWE Renewables.
“With this tax equity deal for our Peyton Creek Wind Farm, we are proud to be furthering our investment in the U.S., one of our main strategic markets where we are determined to continue our growth in renewables,” adds Ortin.
At its peak, a team of approximately 170 construction workers were on-site to complete the Peyton Creek project. Ten personnel, including skilled technicians, will be stationed on-site day-to-day during operations. During the next 30 years, Peyton Creek is projected to generate more than $30 million in property taxes for Matagorda County. This additional revenue will support essential county services and local schools.
Peyton Creek wind farm is equipped with 48 Nordex 3.15 MW turbines. With the Peyton Creek wind farm becoming operational, RWE’s total installed operating wind generating capacity in the U.S. reached more than 4,000 MW. RWE wants to invest a net €5 billion by 2022 in the continued expansion of renewable energy.
Further onshore wind farms in the U.S. are currently under construction. The Cranell Wind Farm, a 220 MW facility in Refugio County, and Big Raymond, a 440 MW facility in Willacy, Cameron and Hidalgo counties, are both located in Texas. The Boiling Springs Wind Farm is a 150 MW wind farm and RWE´s first project in Oklahoma.
Photo: The Peyton Creek Wind Farm in Matagorda County, Texas
Original source: North American Wind Power