Tri Global Energy closes sale of 175 MW wind farm in West Texas

Tri Global Energy has completed the sale of its 175 MW West Texas wind project, Appaloosa Run, located in southeast Upton County near the county seat of Rankin, Texas. Comprised of approximately 12,300 leased acres, the project's land is privately owned by a single landowner and Texas's largest university system, the University of Texas.

Tri Global Energy commenced Appaloosa Run's development phase in 2018. The wind project is estimated to generate millions in tax revenue for local schools and roads, among other local community services. Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, Inc. and Altius Renewable Royalties Corp., is providing royalty financing in support of Tri Global Energy origination and development work for the Appaloosa Run project.   

The project is approved for interconnection to the Electric Reliability Council of Texas (ERCOT) electrical grid, which supplies power to more than 25 million Texas customers and represents 90 percent of the state's electric load. 

The financial terms of the agreement and the project buyer are undisclosed.