Fengate achieves financial close on the 160MW Prairie Switch Wind project near Houston, and notice to proceed with construction
HOUSTON, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Fengate Asset Management is pleased to announce financial close and notice to proceed with construction of the 160-megawatt (“MW”) Prairie Switch Wind project located outside of Houston, Texas (the “Project”).
- HOUSTON, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Fengate Asset Management is pleased to announce financial close and notice to proceed with construction of the 160-megawatt (“MW”) Prairie Switch Wind project located outside of Houston, Texas (the “Project”).
- Fengate closed on construction and term financing with MUFG to fund the construction and operation of the Project, and tax equity financing with GE Energy Financial Services and Tyr Energy to monetize the production tax credits.
- The Project will utilize 48 of GE Renewable Energy’s 3.4 MW wind turbines and will be constructed by Infrastructure & Energy Alternatives by the end of 2023.
- As part of this transaction, Fengate and Meta Platforms, Inc. (“Meta”) signed a long-term power purchase agreement (“PPA”) for 100 percent of the Project’s production.