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.”
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/.