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Tri Global Energy divests 380MW Texas wind farm to Terna Energy

CTBR Staff Writer Published 23 November 2015

Tri Global Energy has divested its 380MW wind energy project in the US state of Texas to Terna Energy for an undisclosed amount.

Triglobal

Terna Energy, a unit of GEK Terna group of companies, will build and operate the wind power project in Fluvanna.

Under the agreed terms, Tri Global will work with Terna Energy during the construction phase, up to the time when the project reaches commercial operation.

The Fluvanna wind farm will be built in a phased approach, with phase I to become operational in 2017.

It will use the Electricity Reliability Council of Texas (ERCOT) Competitive Renewable Energy Zone (CREZ) transmission system.

To be built on 32,000 leased acres of privately owned farm and ranch land, the wind farm is expected to generate clean electricity that will be enough to power 110,200 homes.

The Fluvanna wind energy project was developed under Tri Global Energy's proprietary business model, the Wind Force Plan, which provides local landowners and community investors the opportunity to partner with and have a substantial ownership in the wind project development that leased their land.

Tri Global Energy chairman and CEO John Billingsley said: "Our relationship with Terna Energy will help us deliver on our promise to positively impact the projects' host community economies through employment opportunities and tax revenues; generate a substantial rate of return to local community investors; and to generate a second source of income in the form of wind royalties for farmers and landowners.

"Community-sponsored wind projects have been shown to create more jobs and greater local economic benefit.

"Through our partnerships with the community managers and more than 130 landowners and community investors participating in the Fluvanna project, we've been able to work together to bring about a high level of local support and attention for wind energy."

Based in Greece, Terna Energy has 885MW of renewable energy projects in operation or under construction in Europe and the US.

Tri Global recently sold wind development assets of Hale Community Energy to a subsidiary of NextEra Energy Resources.

Based in Dallas, Tri Global's wind division develops and owns utility-scale wind projects in Texas and New Mexico. It concluded 520MW of wind transactions and will commercialize approximately 2GW cumulatively by the end of 2017.

The company's solar division has constructed and operated over 1,000 solar projects for utilities, large corporations, schools and churches, municipalities and residences so far.


Image: The Fluvanna wind farm will be built in a phased approach. Photo: courtesy of Photokanok / FreeDigitalPhotos.net.