News from Tri Global Energy

Tri Global Energy Announces Sale of One of the Nation’s Largest Community Wind Energy Projects to NextEra Energy

Tri Global Energy Announces Sale of One of the Nation’s Largest Community Wind Energy Projects to NextEra Energy

DALLAS (Sept. 18, 2015) -- Tri Global Energy, LLC, (TGE) a leading developer and owner of utility-scale wind projects in the U.S., is announcing the sale of the wind development assets of Hale Community Energy LLC (HCE) to NextEra Energy Resources LLC, a clean energy leader and the largest renewable energy power company in North America.

Tri Global Energy is the exclusive developer and a manager of Hale County Wind Farm, CottonWind Farms, Lakeview Wind Farms and East Mound Renewable Energy – the wind farms included in the Hale Community Energy project portfolio. Under the direction of Tri Global Energy, the four wind farms joined together in 2013 to form one of the largest community-sponsored wind projects in the U.S. with the potential to generate more than 1,200 megawatts (MW) of renewable energy, according to TGE.

The Hale Community Energy wind project was developed under Tri Global Energy’s proprietary business model, the Wind Force Plan, which allowed local landowners and community investors the opportunity to partner with and have a substantial ownership in the wind project development that leased their land.

“This is a visible sign of the power behind our community-based business model,” said John Billingsley, Tri Global Energy Chairman and CEO. “Our relationship with NextEra Energy will help us deliver on our promise to positively impact the projects’ host community economies through employment opportunities and tax revenues; generate a substantial rate of return to local community investors; and to generate a second source of income in the form of wind royalties for farmers and landowners.

“We are excited to work with NextEra Energy, one of the largest and most capable owners and providers of renewable energy in the world, to bring this project to fruition,” Billingsley said.

TGE currently has 15 greenfield wind generation projects under development with a capacity of nearly 6,200 MW of electricity. “Developing a wind project is a complex process,” Billingsley said. “Our project development operation critically evaluates a potential site, considering wind resource quality, ability to obtain permits, access to transmission, impact on the surrounding environment, consistency with current land uses and constructability.

“We develop quality projects by leveraging third-party expertise that is highly regarded in the renewable energy industry, assuring our projects are readily financed by the power producers and other leading renewable investment institutions in the U.S.,” said Billingsley.

Under the terms of the agreement, TGE will continue to be responsible for working with NextEra during the construction phase, up to the time when the project reaches commercial operation.

Hale Community Energy is located in the southern part of Hale County, Texas, about 50 miles north of Lubbock. The project spans over 120,000 contiguous acres – about 190 square miles -- of privately owned farm and ranch land from nearly 350 landowners. The power from HCE could generate enough electricity to supply from 480,000 to 600,000 homes, depending on homeowner energy utilization.

“It has needed the effort and support of our project managers, investors, local landowners and community involvement to take a vision in 2010 and bring that vision to reality,” said Mike Price, president of Hale Community Energy. “We are appreciative of the quality of development skills that Tri Global Energy has delivered to bring our project to its current stage, and we couldn’t be more excited that an industry-leading company with the reputation of Next Era is now going to construct and operate our project.”           

HCE’s measured wind speeds and capacity have proven to be among the best in the nation, according to TGE. The initial phases of the project are expected to achieve commercial operation in 2016 and will interconnect with ERCOT (Electricity Reliability Council of Texas) and SPP (Southwest Power Pool) transmission systems.

“The project will contribute substantial economic impact to the local host area,” said Billingsley, “including funds from additional tax revenue, landowner royalties and other contributions, as well as the creation of both part-time and full-time permanent local jobs.”

About Tri Global Energy

Tri Global Energy (TGE) is a leading developer of wind energy in the U.S. The company is based in Dallas.  Founded in 2009, TGE’s goal is to develop clean energy at an affordable cost through the development of wind projects. Additionally, the company has pioneered a unique way to generate local economic benefits through the development of renewable energy projects by partnering with landowners, communities and industry-leading investors. The company develops and owns utility-scale wind projects in Texas, New Mexico and Nebraska.