enXco, an EDF Energies Nouvelles company has acquired the Bobcat Bluff Wind Project from Element Power US. The project, which spans about 14,000 contiguous acres, is located around 20 miles south of Wichita Falls in Archer County, Texas. Element Power is owned by Hudson Clean Energy Partners, a global private equity firm dedicated to investing in renewable power, alternative fuels, and energy efficiency and storage.
enXco, an EDF Energies Nouvelles Company, and Element Power US, LLC (Element) announced today that enXco has closed on the purchase of the Bobcat Bluff Wind Project. The project, which spans approximately 14,000 contiguous acres, is located approximately 20 miles south of Wichita Falls in Archer County, Texas.
In the coming months, enXco intends to deploy up to 150 megawatts (MW) of GE 1.5 sle turbines. Construction is expected begin this spring with an operational date set for December 2012.
“This transaction provides enXco with an opportunity to enter the strong wind resource market of the Energy Reliability Council of Texas (ERCOT) while the federal Production Tax Credit (PTC) program is in effect. By working with Element Power, we can leverage our collective experience and resources to complete projects within the December 2012 timeframe,” commented Tristan Grimbert, President & CEO of enXco. “Bobcat Bluff marks our second development acquisition within Texas in the first quarter of 2012. Both projects are scheduled for construction and completion this year.”
“Element Power is pleased to work with enXco to bring this quality project forward before the fast approaching expiration of the PTC,” said Ty Daul, CEO of Element Power’s North American business. “Bobcat Bluff not only offers value to Element Power and enXco, but will also create local jobs and inject capital into the community via lease payments to landowners and payments to Archer County and Archer City ISD.”
About enXco – an EDF Energies Nouvelles Company:
enXco (www.enxco.com) – an EDF Energies Nouvelles Company (www.edf-energies-nouvelles.com) develops, constructs, owns, operates and manages renewable energy projects throughout the United States. For more than two decades, we have been a leader in wind-energy focusing on large-scale wind projects. Today enXco’s portfolio includes solar and biomass technologies, in an effort to help drive our nation’s transition to a sustainable energy economy. enXco is a significant owner and developer of wind-energy installations in the United States, and is the leading third-party operations & maintenance provider for wind farms in North America.
Element Power was established in 2008 with leading industry professionals to develop, finance, construct and operate renewable energy projects globally. Element has offices throughout Europe and North America with highly experienced teams focused on developing wind and solar projects alone and under joint venture. Element Power is owned by Hudson Clean Energy Partners, a leading global private equity firm dedicated solely to investing in renewable power, alternative fuels, and energy efficiency and storage.