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Lincoln Clean Energy secures financing for 300MW wind project in Texas

EBR Staff Writer Published 12 January 2018

Chicago-based Lincoln Clean Energy (LCE) has secured financing for its 300MW wind farm named Tahoka Wind, which will be built in Lynn County, Texas.

Global financial services firm Morgan Stanley will provide the construction and term financing for the wind project. On the other hand, BHE Renewables, a subsidiary of Berkshire Hathaway Energy Company, will provide long-term tax equity for the wind farm.

Tahoka Wind will be supplied with 120 turbines of GE Renewable Energy’s 2.5-127 range. GE Renewable Energy will also provide long term services for the wind farm.

Lincoln Clean Energy founder and CEO Declan Flanagan said: “The successful financing of this project underlines the competitiveness of U.S. wind power.

“With the uncertainty of tax reform behind us, the next three years are going to be big for renewables and LCE is well-positioned to execute on more than 1,000 megawatts of advanced-stage development projects across Texas and the Midwest.”

According to LCE, the project site in Lynn County has been selected due to its optimum transmission location and wind resource.

LCE director and I Squared Capital partner Adil Rahmathulla said: “I Squared Capital is proud to be at the forefront of the transition to renewable energy in the United States.

“Combined with the recently commissioned Amazon Wind Farm Texas and Willow Springs Wind Farm, LCE will generate approximately 3.3 million megawatt-hours of renewable energy per year, or enough to power the equivalent of over 300,000 U.S. homes.”

LCE, which develops solar and wind projects across North America, was acquired in 2016 by I Squared Capital, a global infrastructure investment manager.

The 253MW Amazon Wind Farm Texas, owned by LCE, is located in Scurry County and has been in operations since October 2017. It is supported by two power purchase agreements (PPAs) with Amazon and Iron Mountain.

The company also owns the 250MW Willow Springs Wind Farm in Haskell Country, which was commissioned in November 2017.