Renewable Energy Systems (RES), the world’s largest independent renewable energy company, has agreed to jointly develop the approximately 480-MW Maverick Creek Wind Project in Texas with Algonquin Power & Utilities Corp.
Maverick Creek Wind is financed through a virtual 15-year PPA with General Mills.
“We are pleased to partner with Algonquin on the Maverick Creek project,” said Graham Reid, CEO of RES in the Americas. “This project is a clear demonstration of our mutual commitment to a sustainable future and growing the economy through renewable development.”
Maverick Creek is in Concho County, Texas, a particularly favorable wind area in central Texas. Capitalizing on Texas’ ambition for clean energy development, the project will provide an economic investment opportunity, as well as an increase in clean energy jobs.
Work on the wind farm is expected to begin in September 2019 and will create nearly 175 jobs during peak construction. Once complete in late 2020, the project will generate renewable energy to power about 168,000 homes annually.
Maverick Creek Wind was originally developed by Roaring Fork Wind, LLC, a joint venture partnership between RES and Steelhead Americas, Vestas’ development arm in North America. CIBC Capital Markets acted as exclusive financial advisor to Roaring Fork, LLC as part of the transaction.
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