Month: January 2022

Old Settler Wind Project

Old Settler Wind Project

Year after year, Texas ranks as one of the nation’s leading generators of wind capacity, and this trend is expected to continue as power producers take advantage of the state’s abundant wind resources. Owned by NorthLeaf Capital and operated by Apex Clean Energy, Old Settler is a 151.2 MW wind farm located in Northern Texas. The wind energy harvested by the 63 General Electric turbines is enough to power about 51,000 homes. The Old Settler Wind project has received acclaim for its inventive financing arrangement, a model for future deals in the wind industry. The clean energy portfolio between NorthLeaf Capital and Apex Clean Energy uses a proxy revenue swap that enables third-party financing and tax equity commitments for the project. This structure allows companies to hedge against risks associated with changing prices in the energy market and fluctuations in power generation.

All Photos courtesy of Apex Clean Energy

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Co-benefits

Environmental

+ Where oil wells once stood, wind turbines now dominate the landscape. This region of the United States is expanding offshore wind installations, drastically reducing carbon emissions.

Economic

+ The expansion of renewable energy in Texas has enhanced rural economies by offering green job opportunities in the construction and maintenance of wind farms.

+ Investments in renewable energy promote resilient infrastructure, inclusive and sustainable industrialization, and foster innovation.

 

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