AIP invest in US onshore wind farm El Campo
AIP today announced that on behalf of Danish pension funds PKA and PenSam we have executed an investment in El Campo, a 243MW onshore wind farm in Texas, US. El Campo will be AIP’s first investment into an onshore wind project in the US, following our investment in two solar energy plants in California in October last year.
PKA and Pensam are acquiring a 50% equity stake alongside Longroad Energy who will continue to own the remaining 50% of the equity. In addition, PKA and PenSam will also provide a term loan to the project. The El Campo onshore wind farm is expected to achieve commercial operation by July 2020 creating hundreds of construction jobs as well as permanent jobs once operational. El Campo is expected to supply electricity to more than 210,000 households. AIP’s sizeable renewables portfolio now counts approximately 3.5 GW supplying more than 3.3 million households across Northern Europe and the US with CO2 free energy.
BHE Renewables will be the sole tax equity partner and construction financing has been secured from a consortium led by Keybank.
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