Lincoln Clean Energy secures financing for 250MW Texas wind farm

WCN Editorial Team 6 Apr 2017 NORTH AMERICA ENERGY & UTILITIES

Lincoln Clean Energy (LCE), a portfolio company of I Squared Capital, has secured financing for its 250MW Willow Springs wind project in Haskell County, Texas.

GE Renewable Energy (GE) has been selected to supply 100 of its 2.5-116 wind turbines for the project.

Once operational, the wind farm will be supported by a 20-year, extended full service agreement performed by GE. The power generated by the project will be sold to Merrill Lynch Commodities.

The $330M project will receive construction and term financing from the Bank of America Merrill Lynch (BAML) and Rabobank as well as long-term tax equity from BAML and BHE Renewables.

Adil Rahmathulla, partner at I Squared Capital, said: “I Squared Capital is proud to be at the forefront of the transition to renewable energy in the United States.

“Part of that requires using proven and reliable technology to maximize generation at our facilities. When fully operational, the new wind farm is expected to generate approximately1,000,000 megawatt-hours of renewable energy per year, or enough to power the equivalent of 90,000 US homes.”

Declan Flanagan, Lincoln Clean Energy founder and CEO, said: “We are delighted to build on our successful relationship with GE and are well-positioned to execute on our pipeline of more than 1,000 megawatts of advanced-stage development projects across Texas and the Midwest.”

* Data provided by Timetric's Construction Intelligence Center.

 

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2020 GlobalData. All rights reserved.