Tri Global Energy Announces Sale to Invenergy of 231 MW Texas Panhandle Wind Project
DALLAS, Sept. 3, 2019 /PRNewswire/ -- Tri Global Energy, LLC, the leading wind developer in Texas and a dominant wind leader in the U.S., and the managers of the Changing Winds Renewable Energy Project, LLC, today announced the sale of the wind development assets of the Changing Winds project to Invenergy, the world's leading privately held developer and operator of sustainable energy solutions.
Tri Global Energy has been the exclusive developer and a manager of Changing Winds since the wind project's origination in 2011, using its proprietary business model, the Wind Force Plan, which allows local landowners and community investors the opportunity to partner with and have a substantial ownership in the wind project development that leased their land.
"Community-sponsored wind projects generate local participation and investment in local communities," said John Billingsley, Chairman and CEO of Tri Global. "Through our partnerships with the local community managers and more than 180 landowners and community investors participating in the Changing Winds project, we've been able to work together to bring about a high level of local support and realize the many benefits that wind energy delivers to Texas and the country.
"Given the depth of experience and capability at Invenergy, we expect that Invenergy will help the Changing Winds project deliver on its promise to positively impact the local community economies through tax revenues, generate a substantial rate of return to local community investors and to generate a second source of income through wind royalties for farmers and landowners," Billingsley said. "We are very proud to develop wind projects that not only benefit the environment by generating renewable energy, but also support and contribute to the communities where they are located."
The Changing Winds project has a nameplate of 231 megawatts (MW) and is comprised of approximately 25,000 leased acres of privately owned farm and ranch land in Castro County, Texas, about 80 miles northwest of Lubbock, Texas.
About Tri Global Energy: Tri Global Energy (TGE) is a leading developer of wind energy in the U.S. The company is headquartered in Dallas with a regional office in Lubbock, Texas. Founded in 2009, TGE's goal is to develop clean energy at an affordable cost through the development of wind projects. The company currently develops and owns utility-scale wind projects in Texas, Nebraska, Illinois and other U.S. locations. For more information, visit www.triglobalenergy.com.
About Invenergy: We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland. Invenergy has successfully developed more than 22,600 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.invenergyllc.com.
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SOURCE Tri Global Energy
