Tri Global Energy, a leading originator and developer of utility-scale renewable energy projects, has announced an agreement to sell two renewable energy projects – a wind and a solar project -- in Blackford County, Indiana to Leeward Renewable Energy, a premier owner/operator with a portfolio of approximately 2,000 MW of generating capacity from renewable sources.
Tri Global Energy's Chairman and CEO, John Billingsley, notes that the two projects have the potential to materially add to the renewable energy infrastructure in the region. "Tri Global Energy continues to drive the energy transition with renewable projects like these in Blackford County. We look forward to working cooperatively with representatives of the county, our participating landowners and our partners to make this significant investment in the community."
Both projects were originated by Tri Global Energy (TGE) in 2019. Blackford Wind will be capable of delivering up to 200 MW and Blackford Solar will be capable of up to 150 MW. The projects combined are expected to produce enough energy to power more than 80,000 homes.
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TGE and Leeward Renewable Energy will work with the county, state, and federal authorities to secure the requisite permits and bring the two projects into construction, with operations projected to commence as early as 2023.
"Projects of this scope demand world-class expertise and resources, and that's why we consider Leeward Renewable Energy an outstanding partner going forward," Billingsley said.
This is the second deal between Tri Global Energy and Leeward Renewable Energy. The two companies announced a transaction involving two of Tri Global Energy's original Indiana projects in White County (180 MW Hoosier Line Wind and 400 MW Honey Creek Solar) in April.
"The acquisition of these quality projects is a great complement to Leeward's growing portfolio of high-quality wind and solar assets. Leeward is dedicated to responsible energy development, while also providing economic benefits and clean, affordable power to the local community," said Andrew Flanagan, Chief Development Officer of Leeward. "Tri Global Energy is a great partner and we look forward to continuing our strong relationship in the future."
Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, Inc. and Altius Renewable Royalties Corp. (TSX: ARR), is providing royalty financing in support of Tri Global Energy completing and funding this project development through the start of construction.
Source: Tri Global Energy
Date: Jun 2, 2021
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