Nov 5 2013
EDF Renewable Energy today announced it has reached an agreement with Renewable Energy Systems Americas Inc. (RES Americas) to acquire the 200 megawatt (MW) Longhorn Wind Project in Texas. Construction is expected to commence later this year in order to qualify the project for the Production Tax Credit (PTC).
The project encompasses approximately 14,000 acres in Floyd and Briscoe Counties, 60 miles northeast of Lubbock, Texas, and will take advantage of the CREZ (Competitive Renewable Energy Zone) transmission lines connecting the wind generating capacity of the Texas Panhandle to high electricity demand areas in the state.
“Longhorn represents our third wind project acquisition in the Texas Panhandle this year, and brings EDF Renewable Energy’s near-term capacity under either late-stage development or construction in the area to 561 MW, including the previously announced Hereford and Spinning Spur II transactions,” said Ryan Pfaff, Executive Vice President of EDF Renewable Energy.
“We are pleased to be working with EDF Renewable Energy to bring additional wind energy to the Texas grid,” said Tom Hiester, Senior Vice President of Development with RES Americas. “Longhorn is another example of significant investment occurring because of the Production Tax Credit for wind energy, and it speaks to the criticality of maintaining this important tax incentive.”
EDF Renewable Energy has also secured a long-term, fixed-price hedge agreement for the expected energy production of the project. RES Americas will construct the project under a balance-of-plant construction contract.
About EDF Renewable Energy:
EDF Renewable Energy is a leading U.S. independent power producer with more than 25 years of expertise in the renewable industry, covering all range of services from project development, management to operations and maintenance. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties. EDF Renewable Energy’s portfolio consists of 4 gigawatts of developed projects with 1.9 gigawatts of installed capacity. EDF Renewable Energy is the U.S. subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the renewable energy arm of the EDF group, the leading electricity company in the world. For more information visit: www.edf-re.com
About RES Americas
Renewable Energy Systems Americas Inc. (RES Americas) is a fully-integrated renewable energy company that develops, constructs, owns, and operates projects across North America. The company employs more than 275 full-time professionals working throughout North America, has a construction portfolio of more than 6,500 MW of renewable energy, and offers a full suite of development and construction services for wind, solar, and transmission projects. RES Americas’ corporate office is located in Broomfield, CO with regional offices located in Austin, TX and Minneapolis, MN. RES Americas is part of the RES Group, a leading international renewable energy developer. For more information, please visit: https://www.res-group.com/en.
Source: http://www.edf-re.com/