Tri Global Energy announces sale of wind farm in Texas
Tri Global Energy, LLC, the developer of utility-scale community wind power projects, has announced that interests held by project partner, Floyd County Wind Farm, LLC, in a joint wind project development with Westerly Wind LLC, has been sold to Westerly South Plains, LLC
Westerly South Plains has in turn entered into an agreement with a subsidiary of First Wind Holdings LLC, which will acquire, construct and operate the 500 MW community wind farm on 51,000 acres.
The Floyd County Wind Farm was originally formed in 2010 by Tri Global Energy under the company’s Wind Force Plan where projects are owned by local landowners, community investors, managers and Tri Global.
John Billingsley, Tri Global Energy CEO, stated:
We are pleased with the sale of Floyd County Wind Farm and the resulting financial gains that the local landowners and community investors will receive. The success of the Floyd County Wind Farm was the result of the support and effort the many landowners, local investors and community leaders and especially the hard work of Floyd County managers, Larry Bramlett and Keith Billington. These local individuals have made the development of the Floyd County Wind Farm truly a community success story.
Terms of the sale were not disclosed, but Billingsley noted that the Floyd County Wind Farm landowners and community members are receiving a rate of return of several multiples of their cash investments and stand to receive millions of dollars of future wind royalties.
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