NADB providing loan to Rocksprings Val Verde Wind, LLC for construction of a 149-MW wind farm in Val Verde County, Texas
- The financing is a short-term, senior construction loan to be repaid upon initiation of commercial operations
San Antonio, Texas – The North American Development Bank (NADB) is providing a short-term loan for up to US$40 million for the construction of a 149-MW wind farm that is anticipated to generate approximately 570 GWh of electricity during the first year of operation, equivalent to the annual energy consumption of 50,327 households.
The project, to be constructed on 15,620 acres of private land approximately 30 miles north of the U.S.-Mexico border in Val Verde County, consists on the construction of 69 wind turbines, an electrical substation and an underground transmission line to send the energy to the 138-kV Maxwell Station managed by AEP Texas Central Company. The project also includes a remote monitoring and control system (SCADA) to ensure that the plant is always running efficiently and safely, a network of roads, and an operation and maintenance facility.
The energy generated will be purchased by two private off-takers pursuant to two long-term power purchase agreements, one for 12 years and the other for 15 years, executed with the special-purpose company created to carry out the Project.
“We are proud to collaborate on the construction of this clean energy facility that will supply electricity to the residents of Val Verde County,” mentioned Alex Hinojosa, NADB Deputy Managing Director. “Since 2008, NADB has funded five renewable energy projects in Texas with a combined installed capacity of 461.3 MW.”
Approved for certification and financing on March 1, 2017 by the Board of Directors of the Border Environment Cooperation Commission and NADB, the project is anticipated to displace approximately 330,805 metric tons/year of carbon dioxide (CO2), 414 metric tons/year of SO2 and 259 metric tons/year of NOx.