Ecofin US Renewables Infrastructure Trust PLC, which invests in renewable energy assets in the US, signed an agreement to acquire the 60 MW operating wind asset ‘Whirlwind’ in Texas for $49 million.
Ecofin will fund the contractual commitment with its new revolving credit facility and the net proceeds remaining from its IPO. The new asset is expected to immediately provide incremental distributable cash flow to the company.
Whirlwind uses 26 Siemens 2.3 MW wind turbine generators for electricity generation. Siemens Gamesa operates the wind farm and undertakes its maintenance under a long-term service and maintenance agreement. The wind farm is located in a business-friendly state, where population growth and migration has led to electricity demand growth.