Chicago-based sustainable-energy developer Invenergy announced completion of construction financing for a new 300-megawatt wind farm between Mertzon and Big Lake on Jan. 8, about 70 miles east of San Angelo.
According to a news release from the company, the Santa Rita East wind farm will be the largest undertaking by Invenergy to date, and construction is already under way.
According to the company, financing was finalized on Dec. 19, and the company has also signed a Purchase and Sale Agreement with AEP Renewables for acquisition of a 75 percent interest in the project upon completion. Invenergy will retain a 25 percent stake, and continue to provide operations, asset management and energy management services as part of a 20-year agreement.
In 2018, Invenergy announced three separate virtual-power purchase agreements (VPPAs) for Santa Rita East totaling 260 megawatts, with Mexico-based bakery giant Grupo Bimbo for 100 megawatts, pharmaceutical maker Merck for 60 megawatts, and healthcare-focused Novartis of Switzerland for 100 megawatts of electricity.
According to Invenergy, the Santa Rita East, situated north of Barnhart in Irion County, is scheduled to be online by mid-2019, creating more than 300 jobs during construction, and 12 to 15 permanent positions.
The project will generate significant economic impact to the community through tax payments, lease payments to participating landowners, and wages and benefits for employees.
Go San Angelo | http://www.gosanangelo.com