The 197 MW Castle Gap Wind project in Central Texas, owned and operated by Swift Current Energy, is now operational and providing power to Target Corporation under a long-term virtual Power Purchase Agreement (PPA).
The project is not only producing enough pollution-free energy to power more than 50,000 homes annually but is also reducing greenhouse gas emissions, equivalent to removing nearly 110,000 gasoline-powered cars from the road per year.
"Castle Gap Wind is a momentous project for Swift Current Energy as we grow our projects under asset management and operations," said Eric Lammers, CEO and Co-Founder of Swift Current Energy. "Castle Gap Wind is one of the earliest projects supported by the Inflation Reduction Act, and we are thankful for our partners at Target, Goldman Sachs, MUFG, CaixaBank, and of course the entire Swift Current Energy team who helped make the Project possible."
While Swift Current mentioned Mitsubishi UFJ Financial Group and CaixaBank as the project financers, Goldman Sachs was the tax equity provider for the project.
Additionally, Vinson & Elkins and Husch Blackwell represented Swift Current Energy in the project financing transactions, Latham & Watkins represented MUFG and CaixaBank, O'Melveny & Myers represented Goldman Sachs, and Jackson Walker represented each of MUFG, CaixaBank, and Goldman Sachs with respect to Texas law matters.