A California-based company has announced that it has secured a tax equity commitment from a consortium led by GE Energy Financial Services for a wind project in North Texas, Kallanish Energy reports.
The Amadeus Wind Project also executed a hedge agreement with Morgan Stanley and a construction loan with Commerzbank.
The announcements came from BayWa r.e. Wind LLC with headquarters in Carlsbad, California.
The 250-megawatt Amadeus Wind Project is located in Kent County near Lubbock, Texas.
The project will be located about 25,000 acres of federal, state and private lands.
The wind farm is expected to produce enough electricity to power about 75,000 homes.
The project is already under construction and is expected to begin commercial service in fourth quarter of 2020, the company said.
The company, part of the German-based BayWa Group, said it has utilized 5% safe harbor equipment to qualify the project for 100% production tax credits.
The company has developed more than 3 gigawatts of renewable projects around the world and manages more than 8.3 gigawatts of assets.
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