Dallas (April 26, 2021) – Tri Global Energy, a leading originator and developer of utility-scale renewable energy projects, has entered into an agreement to sell two renewable energy projects – the 180 megawatt (MW) Hoosier Line Wind project and the 400 MW Honey Creek Solar project – to Leeward Renewable Energy, a growth-oriented renewable energy company that owns and operates a portfolio of approximately 2,000 MW of generating capacity.
The wind and solar power projects, located in White County in northwestern Indiana and targeted to be operational as early as 2023, represent the first deal between the two Dallas-based companies and the first renewable project sales for Tri Global Energy (TGE) in Indiana. TGE has regional offices in Reynolds and Harford City, Indiana and also has other renewable projects under development in the state.
“Hoosier Line Wind and Honey Creek Solar represent a significant milestone for TGE, our first expansion to Indiana,” said John Billingsley, Chairman and CEO of Tri Global Energy. “We couldn’t be more excited to begin a new relationship with Leeward, whose leadership shares our commitment to develop and expand clean energy and to invest in the advancement of local communities.”
Since the origination of these projects in 2019, Tri Global Energy has been the project developer. The company will continue as a co-development partner under the sale arrangement with Leeward Renewable Energy.
“We are pleased to reach agreement with Tri Global Energy to acquire these well-planned development assets, and to partner with Tri Global on their continued development,” said Jason Allen, CEO of Leeward Renewable Energy. “The projects accelerate our efforts in the Indiana market and are highly complementary to our aggressive growth strategy across the U.S.,” added Allen.
With 50 landowners involved in the projects, both Hoosier Line Wind and the Honey Creek Solar have gained strong support in White County. PJM utility interconnection and environmental studies are currently underway.
Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management, Inc., and Altius Renewable Royalties Corp.(TSX: ARR) is providing royalty financing in support of Tri Global Energy completing and funding these projects’ development through the start of construction.