Longroad Energy Begins Construction on 243MW Wind Farm
- Jul 11, 2019
Longroad Energy has completed financing for the 243-megawatt El Campo wind farm in Knox County, Texas, and construction is underway. Two Danish pension funds—PKA and PenSam, represented by their investment manager, AIP—became long-term investors alongside Longroad.
The project is one of the largest investments ever made in Knox County, with the total cost of the project estimated at $335 million. The facility is expected to achieve commercial operation by July 2020. In addition, the development is set to contribute nearly $20 million in property taxes to the Benjamin Independent School District, Know County, Knox County Hospital District and other local taxing authorities.
BHE Renewables is the sole tax equity investor. The lending group is led by KeyBank and includes HSBC Bank, CIBC and Zions Bancorporation. The wind farm will create approximately 200 jobs during construction. Upon completion, eight full-time employees will manage operations.
The project has two corporate power purchase agreements: DaVita has signed a PPA for 83 megawatts and Crown Holdings will receive 111 megawatts, in a separate PPA. Vestas American Wind Technology will supply 67 wind turbines ranging from 2MW to 4.2MW each. Mortenson will build the facility under an EPC agreement. Longroad Energy Services, an affiliate of Longroad Energy, will provide construction management, asset management, operations and maintenance, as well as remote monitoring services over a 20-year term.