Renewable Energy Systems (RES), the largest autonomous renewable energy company in the world, takes pleasure in reporting that it has decided to develop an approximately 480-MW Maverick Creek Wind Project in Texas in collaboration with Algonquin Power & Utilities Corp.
Maverick Creek is situated in Concho County, Texas, a highly suitable wind area in central Texas. The project will exploit major goals set by Texas for clean energy development to enable an increase in clean energy jobs and to provide a financial investment opportunity. It is funded by a nearly 15-year power purchase agreement with General Mills.
It is anticipated that the project will be set up in September 2019 and will create about 175 jobs during peak construction. After its completion in late 2020, the roughly 480-MW project will produce renewable energy to supply electricity to about 168,000 homes every year.
Initially, the project was developed by Roaring Fork Wind, LLC, a tie-up between RES and Steelhead Americas, Vestas’ advancement arm in North America. CIBC Capital Markets served as the sole financial advisor to Roaring Fork, LLC, as part of the agreement.
We are pleased to partner with Algonquin on the Maverick Creek project. This project is a clear demonstration of our mutual commitment to a sustainable future and growing the economy through renewable development.
Graham Reid, CEO, RES Americas Inc.