Innergex commissions 225.6 MW Onshore wind farm in USA

Innergex Renewable Energy Inc. announces that the full commissioning of the 225.6 MW Griffin Trail wind facility in North Texas was achieved on July 26, 2021.

The facility is sited on approximately 26,000 acres of land and consists of 80 GE wind turbines. The renewable energy generated will be fed into the ERCOT transmission grid and sold on the spot market.

The wind farm is expected to produce a gross estimated long-term average of 831.4 GWh per year, enough to power approximately 57,000 Texan households with clean energy, and to benefit from 100% of the US Production Tax Credits (“PTCs”), representing CAN$0.031 (US$0.025), indexed to inflation, per KWh of electricity produced for the first 10 years of operations, which is comparable to power purchase agreements with similar tenors from government backed utilities in Canada.

The company also concluded the wind project's tax equity funding on July 30, 2021. Total construction costs were slightly under budget. The construction loan of CAN$319.0 million (US$255.76 million) was repaid by a CAN$210.6 million (US$169.2 million) tax equity investment, while the Corporation contributed CAN$143.8 million (US$115.5 million) in sponsor equity. The excess contribution of the tax and sponsor equity funding will be used for construction related spending and for holdback amounts following the end of the construction activities.