Invenergy Announces the Commercial Operation of 130.5 MW Camp Springs Wind Energy Center in Texas
Posted on: Wednesday, 11 July 2007, 12:04 CDT
CHICAGO, July 11 /PRNewswire/ -- Invenergy Wind LLC announced today that its Camp Springs Wind Energy Facility has commenced commercial operation. The 130.5 MW project is located in Scurry County just outside of Snyder, Texas and consists of 87 General Electric 1.5 sle wind turbines. 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.
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.
Wind energy projects completed and under construction by Invenergy Wind in North America and Europe are expected to generate more than three billion kilowatt hours of electricity per year with clean and renewable generation technology.
About Invenergy Wind LLC
Invenergy Wind LLC is an affiliate of Invenergy LLC, a developer, owner and operator of utility-scale electricity generating facilities including wind energy and natural gas-fired projects. The company has comprehensive expertise in the development, financing, construction, operation and management of power generation projects serving a wide range of utilities, load serving entities and energy trading companies. The members of Invenergy's senior management team have extensive experience in diverse areas of the energy market and a track record of resounding success at Invenergy and in their prior business entities.
Invenergy is headquartered in Chicago and has professional staff located in its North American offices in Denver, Washington D.C., Toronto, Milwaukee, Tampa, San Francisco, Portland and Austin, Texas. Overseas offices are located in London (UK), Warsaw (Poland) and Athens (Greece).
For more information visit http://www.invenergyllc.com/
Invenergy Wind LLC
CONTACT: Lesa Kelley of Invenergy Wind LLC, +1-312-224-1423
Web site: http://www.invenergyllc.com/
Source: PRNewswire
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