DALLAS, May 4, 2017 /PRNewswire/ -- Tri Global Energy, a leading U.S. originator and developer of utility-scale wind energy projects, today announced the initial phase of 197.6 megawatts (MW) of the Bearkat Wind Energy Project (Bearkat) has reached financial close and begun construction.
"We are very pleased to collaborate with CIP on this project and support them in achieving this important milestone," said John Billingsley, Chairman and CEO of Tri Global Energy. "We look forward to supporting CIP on subsequent phases of the Bearkat Wind Project and expanding our relationship with them on several other community-sponsored utility-scale renewable energy project developments."
Comprised of 30,000 leased acres of privately owned farm and ranch land in Glasscock County, Texas, Bearkat is now owned by a fund managed by Copenhagen Infrastructure Partners (CIP), based in Denmark. Tri Global Energy developed Bearkat using its proprietary business model, the Wind Force Plan, which allows local landowners and community investors the opportunity to partner with and have a substantial ownership in the wind project development that leased their land.
"Community-focused development, coupled with Texas' significant investments in infrastructure, abundant wind, solar and fossil resources, and supportive business environment contribute to our national leadership in all forms of energy generation," said Congressman Mike Conaway (R-Texas), who represents Glasscock County. "Wind energy projects like these positively impact local economies through job creation and increased tax revenues."
Since founding the Bearkat community-sponsored wind energy project in September 2012, Tri Global Energy has been a manager, member and the exclusive project developer. In July 2016, CIP purchased Bearkat and another Tri Global Energy wind development, Blue Cloud Wind Energy. Since then, Tri Global Energy's project development team has worked closely with CIP to achieve financial closing and funding to start of construction.
About Tri Global Energy
Tri Global Energy (TGE) is a leading developer of wind energy in the U.S. The company is based in Dallas. Founded in 2009, TGE's goal is to develop clean energy at an affordable cost through the development of community-sponsored, utility-scale renewable energy projects. Since 2014, TGE concluded over 3,000 MW of transactions with sponsor equity partners and the represented projects are now either in operation, construction or project financing. For more information, visit http://www.triglobalenergy.com.
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SOURCE Tri Global Energy