Renewables

Swift Current Energy Commences Operations at 197 MW Wind Project in Central Texas

Nov. 15, 2023

The project is providing power to Target Corporation under a virtual PPA and producing enough pollution-free energy to power more than 50,000 homes annually

EnergyTech Staff

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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.

About the Author

EnergyTech Staff

Rod Walton is senior editor for EnergyTech.com. He has spent 14 years covering the energy industry as a newspaper and trade journalist.

Walton formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

He can be reached at [email protected].

EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids.

Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.