EDF Renewable Energy has entered into a Membership Interest Purchase Agreement with Lincoln Renewable Energy to acquire the first phase of the up to 500 MW Hereford Wind Project in Texas, subject to certain conditions precedent, with an option to acquire the second phase of the project. Construction is expected to commence on the 200 MW first phase by end-2013 in order to qualify it for the Production Tax Credit (PTC).
The project, located in Deaf Smith County southeast of the town of Hereford, will take advantage of the CREZ (Competitive Renewable Energy Zone) transmission lines connecting the wind generating capacity of the Texas Panhandle to high electricity demand areas in the state. EDF Renewable Energy is in advanced negotiations to secure a long-term, fixed-price hedge agreement for the expected energy production of the first phase of the project.
Following on from the Spinning Spur (161 MW) and Bobcat Bluff (150 MW) projects commissioned in December 2012, and the Spinning Spur II (161 MW) project presently under construction in the Texas Panhandle, EDF Renewable Energy will soon expand the Group’s installed wind capacity in the state to 972 MW.
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