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Citigroup, General Electric and Pattern Energy Group LP will make equity investments to help build and operate a Texas wind farm intended to supply electricity to 60,000 U.S. households by late 2014.
Pattern will help run and maintain the 218-megawatt facility that has been commissioned to supply Citigroup Energy with power under an offtake agreement, the companies said Tuesday.
GE Energy Financial Services will supply 118 turbines for the plant, which the Environmental Protection Agency expects to help curb annual greenhouse gas emissions by nearly 507,000 tons.
Mike Garland, Pattern Energy CEO said the companies aim to offer job opportunities and promote community programs for economic growth and development in Texas.
Pattern is financing construction work with loans from BayernLB, Credit Agricole Corporate and Investment Bank, Landesbank Baden-Wuerttemberg, Nord/LB, RBC, RBS and Societe Generale.
Mortenson Construction will oversee work on the Panhandle Wind Project, which was designed for Texas’ Competitive Renewable Energy Zone infrastructure of Texas and occupies 18,000-acres of land in Carson County.
The facility will be connected to the main grid of the Electric Reliability Council of Texas.
