The Stella wind farm is commissioned with 67 Acciona AW-125 3.0 MW turbines and capable of producing electricity sufficient to power more than 60,000 homes.
E.ON has also announced securing tax equity financing of the wind farm. The project is expected to strengthen E.ON’s position in coastal wind projects, which holds more than 1GW in operation.
E.ON Climate & Renewables board member and North America chief operating officer Silvia Ortin said: “We are excited to bring another project, our fifth Texas coastal project and our 23rd overall, online.
“Our excellence in capabilities and working together with our project partners enables us to deliver a competitive project that brings substantial long-term economic benefits to South Texas. More importantly we were able to achieve this milestone safely, on time and on budget.”
US-based Allianz Capital Partners has provided tax equity financing for the project on behalf of Allianz insurance companies. Allianz has arranged tax equity financing in exchange for a part of interest in the Stella project.
E.ON group finance senior vice president Verena Volpert said: “Concluding this financing transaction with Allianz strengthens our continued growth in the U.S. and confirms our position as partner of choice for the finance industry.”
The Stella wind project achieved commercial operation and closing of tax equity in December 2018. The company claims that approximately 300 construction jobs were created to bring the project online and local contractors spent more than $12m on local products and services.
The Stella wind farm is estimated to generate more than $25m in revenue for Kenedy County, and this additional revenue is expected to support essential county services and local schools.
In December last year, the German energy company inaugurated the 400MW Rampion offshore wind farm, located 13km off Sussex coast in the UK.
The wind farm, which covers an area of 70km2, is powered by 116 turbines whose installation was completed and commissioned in April this year.
