Capital Dynamics, a global private asset manager, GE Energy Financial Services and Morgan Stanley are pleased to announce they have completed financing for the 150-megawatt (MW) Briscoe Wind Farm, LLC (“Briscoe Wind Farm”) spanning 20,000 acres in Briscoe County, Texas, USA.
Once operational, Briscoe Wind Farm targets providing clean and renewable power generation that is anticipated to cut the equivalent of carbon dioxide emissions from over 890,000 barrels of oil otherwise consumed for the same energy output annually. The resulting electricity is expected to be sold in the Electricity Reliability Council of Texas (ERCOT) electricity market.
Capital Dynamics’ Clean Energy and Infrastructure (CEI) team completed tax equity agreements with GE Energy Financial Services and Morgan Stanley, and construction debt and letter of credit agreements with Morgan Stanley to construct the project. Briscoe Wind Farm will utilize 81 General Electric 1.85-87 wind turbines and the project has entered into a 10-year full service agreement with GE to oversee the operation and maintenance of the turbines, with the goal of providing continuity of operations and predictable maintenance costs. The project rights were acquired by Capital Dynamics from juwi Wind and EBW. juwi developed Briscoe Wind Farm and continues to support the project through a Development Services Agreement. Wanzek Construction will construct the facility with commercial operations expected to begin in the second half of 2015. Based on equivalent environmental savings ratios published by the US Environmental Protection Agency.
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