in News Departments > Projects & Contracts
print the content item

Wind developer Tri Global Energy has announced that interests held by project partner Floyd County Wind Farm LLC, in a joint wind project development with Westerly Wind LLC, have been sold to Westerly South Plains LLC. Westerly South Plains has in turn entered into an agreement with a subsidiary of First Wind, which will acquire, construct and operate the project.

Located in Texas, the Floyd County Wind Farm was originally formed in 2010 by Tri Global Energy under the company's Wind Force Plan, under which projects are owned by local landowners, community investors, managers and Tri Global.

"We are pleased with the sale of Floyd County Wind Farm and the resulting financial gains that the local landowners and community investors will receive," says Tri Global Energy CEO John Billingsley Jr.

"The success of the Floyd County Wind Farm was the result of the support and effort the many landowners, local investors and community leaders and especially the hard work of Floyd County managers Larry Bramlett and Keith Billington. These local individuals have made the development of the Floyd County Wind Farm truly a community success story," adds Billingsley. 

Terms of the sale were not disclosed, but Billingsley notes that the Floyd County Wind Farm landowners and community members are "receiving a rate of return of several multiples of their cash investments" and stand to receive "millions of dollars of future wind royalties."





Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965