Tri Global Energy, an independent renewable energy originator and developer, announced the sale of its 175 MW West Texas wind project, Appaloosa Run, 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. Estimates call for the wind project to generate millions in tax revenue for local schools and roads, among other local community services.
"It's projects like these that are driving our clean energy future," said John Billingsley, Chairman and CEO of Tri Global Energy. "Appaloosa Run is TGE's first project in Upton County and our 13th project to complete development in our home state."
"This project reflects TGE's proven track record to develop best-in-class renewable energy assets and to further invest in our development pipeline," Billingsley added.
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.
Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, Inc. and Altius Renewable Royalties Corp. (TSX:ARR), is providing royalty financing in support of Tri Global Energy origination and development work for the Appaloosa Run project.
The financial terms of the agreement and the project buyer are undisclosed.
For more information, visit Tri Global Energy's site.