DALLAS ,
May 4, 2021 /PRNewswire/ -- Tri
Global Energy, an independent renewable energy originator and
developer, today announced the sale of its 175 MW West Texas wind
project, Appaloosa Run, in southeast Upton County near the county seat of
Rankin, Texas. Comprised of
approximately 12,300 leased acres, the project's land is privately
owned by a single landowner and Texas's largest university system, the
University of Texas.
"It's projects like these that are driving our clean energy
future," said John Billingsley,
Chairman and CEO of Tri Global Energy.
Tri Global Energy commenced Appaloosa Run's development phase in
2018. Estimates call for the wind project to generate millions in
tax revenue for local schools and roads, among other local
community services.
"It's projects like these that are driving our clean energy
future," said John Billingsley,
Chairman and CEO of Tri Global Energy. "Appaloosa Run is TGE's
first project in Upton County and
our 13th project to complete development in our home
state.
"This project reflects TGE's proven track record to develop
best-in-class renewable energy assets and to further invest in our
development pipeline," Billingsley added.
The project is approved for interconnection to the Electric
Reliability Council of Texas
(ERCOT) electrical grid, which supplies power to more than 25
million Texas customers and
represents 90 percent of the state's electric load.
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 origination and
development work for the Appaloosa Run project.
The financial terms of the agreement and the project buyer are
undisclosed.
About Tri Global Energy
We are developers of sustainable energy. Tri Global
Energy's mission is to improve communities through local economic
development generated by originating and commercializing renewable
energy projects. The company currently develops and owns
utility-scale wind, solar, and energy storage projects in
Texas, Nebraska, Illinois, Indiana, Pennsylvania and Virginia. Tri Global Energy is headquartered
in Dallas with regional
development offices in Lubbock,
Texas; El Paso and
Forreston, Illinois; and
Reynolds and Hartford City, Indiana. For more
information, visit www.triglobalenergy.com.
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SOURCE Tri Global Energy