Construction of BayWa r.e.’s Texan wind farm comes to a close
Published by Bella Weetch,
Editorial Assistant
Energy Global,
BayWa r.e. has completed construction and achieved financial close of the Amadeus wind project in Texas. Located northwest of Abilene in Rotan, Texas, US, the 250 MW wind farm has begun selling power into the grid and will generate enough clean, renewable energy to meet the electricity needs of more than 74 800 homes annually. Amadeus is the largest onshore wind project completed to date in BayWa r.e.’s global portfolio.
Amadeus consists of 96 GE wind turbines deployed across nearly 25 000 acres of federal, state and privately held lands. Over the lifetime of the plant, it will provide millions of dollars in tax benefits to the local community. The wind farm will also reduce the need for power generated from fossil fuels and will keep over 648 000 tpy of CO2 greenhouse gases from being released into the atmosphere.
Amadeus brought together some of the leading names in project financing, tax equity and asset ownership. Commerzbank, one of Germany’s largest financial institutions, financed the construction loan for the project. Morgan Stanley is purchasing the energy from the plant under the terms of a 10-year hedge agreement. The tax equity funding was provided by BHE Renewables while Fengate has taken a cash equity position and will jointly own the wind farm with BayWa r.e., which will continue to manage the asset.
Despite the challenges presented by the COVID-19 pandemic, US wind installations are on pace for a record year, according to the latest market data from the American Wind Energy Association (AWEA). Annual installations were up 72% year-over-year through the end of 3Q2020. AWEA cites strong market fundamentals and consumer demand as the main drivers of US wind development, with wind offering the most affordable source of new electricity generation in many parts of the country.
Read the article online at: https://www.energyglobal.com/wind/28122020/construction-of-baywa-res-texan-wind-farm-comes-to-a-close/
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