Chicago, Illinois [RenewableEnergyAccess.com] Invenergy Wind LLC’s Camp Springs Wind Energy Facility has begun commercial operation. The 130.5-megawatt (MW) project, located outside of Snyder, Texas, consists of 87 General Electric 1.5 SLE wind turbines.
All power will be sold into the ERCOT (Electric Reliability Council of Texas) wholesale market. Commodity price risk was mitigated under a long-term hedging structure that Invenergy Wind completed with Fortis Merchant and Private Banking, a division of Fortis.
Fortis also arranged and provided construction financing for the facility. The initial development work for the project was completed by Wind Tex Energy, L.P. Along with Invenergy Wind, equity investment was provided by affiliates of JPMorgan, Northwestern Mutual, Prudential Capital Group and Wells Fargo.
Over the past three years, Invenergy Wind has completed development and construction of 686 MW of wind energy facilities with capital costs of $1.1 billion. This includes projects in Colorado, Montana, Idaho, Tennessee, Iowa, Oklahoma, and Texas as well as projects in Europe. Invenergy Wind has released construction on a further 320 MW of wind energy projects so far in 2007.
Strong support from Scurry County and Western Texas College was instrumental in helping the project proceed on a fast track basis. At full capacity the facility will generate enough electricity to power 50,000 homes.