John Laing makes second US renewables purchase
John Laing Group, the international originator, active investor and manager of infrastructure projects, has announced its first investment in the renewable energy sector in the state of Texas and its second wind farm investment in the US.
John Laing is acquiring a 90.5% shareholding interest in the Buckthorn Wind Power Project in Erath County, Texas in a partnership with NRG Energy Inc, the developer and future operator of the project and one of the largest independent power producers in the US. Construction financing and tax equity are being provided by RBC Capital Markets.
The project is expected to become operational in the fourth quarter of 2017 and will benefit from corporate power offtake agreements for up to 20 years.
Total installed capacity for the Buckthorn Wind Power Project will be 100.5 MW from twenty six Vestas V126-3.45MW turbines, with an 87 metre hub height, and three Vestas V117-3.6MW turbines with a 91.5 metre hub height.
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