First Wind buys Texas project

June 24, 2014 by  
Filed under Green Energy News

US developer First Wind has bought the interests of Floyd County Wind Farm in the South Plains project in Texas.

Tri Global formed the Floyd County Wind Farm in 2010 under the company’s Wind Force Plan, where projects are owned by local landowners, community investors, managers and Tri Global.

In 2012 Tri Global, Floyd County Wind Farm and Westerly Wind formed the South Plains Wind Energy development company, which proposed a 500MW project on 51,000 acres.

“We are pleased with the sale of Floyd County Wind Farm and the resulting financial gains that the local landowners and community investors will receive,” said Tri Global CEO John Billingsley, Jr.

Terms of the sale were not disclosed. Billingsley said that the Floyd County Wind Farm landowners and community members are “receiving a rate of return of several multiples of their cash investments” and stand to receive “millions of dollars of future wind royalties.”

A First Wind subsidiary will acquire, construct and operate the wind farm.

Image: Pleasant Hill wind project under construction (Tri Global Energy)

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