Capital Dynamics and Prudential Capital Group are going in on an onshore wind project in Texas. The project, called Green Pastures, will generate enough electricity to power 110,000 homes.
The project is fully developed and slated to be completed in two phases, and is already under construction in North Texas. Green Pastures will connect and sell power to the state’s main power grid operator, the Electric Reliability Council of Texas. The project has also entered into a long-term power price hedge arrangement with a large financial institution.
Capital Dynamics declined to comment on the transaction.
Sources familiar with the firm say the investment comes from Capital Dynamics Clean Energy Infrastructure Platform.
The Green Pastures project has also signed a turbine supply agreement with ACCIONA Windpower (ACCIONA) for one hundred turbines.
“Green Pastures is the latest example of our commitment to clean energy in the UK, Australia and North America,” said John Breckenridge, managing director at Capital Dynamics in a statement.
Green Pastures is Capital Dynamics’ first onshore wind project in the United States and fourth overall, following on the heels of three wind projects in the United Kingdom. Prudential Capital Group makes both mezzanine and equity investments in energy projects in the US.