News from Tri Global Energy

Tri Global Energy Sells 360 MW Texas Wind Project to Silverpeak

Tri Global Energy Sells 360 MW Texas Wind Project to Silverpeak

DALLAS (Oct. 1, 2019) -- Tri Global Energy, the leading wind developer in Texas and dominant in the U.S., has reached an agreement to sell the 360 MW Canyon Wind project to Silverpeak, an alternative investment firm focused on real estate, energy and credit.

Originated by Tri Global Energy through its proprietary community sponsorship business model, the Wind Force Plan, the Canyon Wind project occupies over 38,000 acres of flat farm and ranch land with nearly 150 participating landowners.  Tri Global will maintain its role as lead developer through project financing and construction.

“Among West Texas’ greatest assets are world-class wind and the many benefits wind energy brings to the region. We are excited about reaching this new milestone for our Canyon Wind energy project,” said John Billingsley, Chairman and CEO of Tri Global Energy.  “We look forward to an active partnership with Silverpeak. Texas continues to be a great place to do business for the development of the growing clean energy pipeline.”

“It is a pleasure to partner with Tri Global, an experienced renewable energy developer that has already brought value to the project,” said Santosh Raikar, Silverpeak Managing Partner and Head of Silverpeak’s Renewables group. “We are particularly excited about this development being situated on the ‘right’ – or eastern – side of ERCOT West, which is devoid of transmission congestion that could affect the pricing and return for producing reliable, economical, and eco-friendly electric power.”

About Silverpeak

Silverpeak is an alternative investment management firm focused on creating long-term value in three specific sectors: real estate, energy, and credit. The firm’s sector-focused platform includes more than 100 employees who have invested in over $18 billion in gross asset value since the firm’s founding in 2010. Further information is available at https://www.silverpeak.com/.

MEDIA CONTACT:
Susie Lomelino
slomelino@triglobalenergy.com

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.