Feb 20 2010
Facilitated by Allegiance Capital, Energos has signed agreements with the developers of two wind farm projects in west Texas. Energos, which is based in Madrid, will provide capital for development and development services to Peak Wind, L.L.C. and Caprock Wind. Both the wind power projects, Arranz Wind Tuxedo I and the Arranz Wind Caprock I, will generate about 200 MW of electricity each. Ongoing oversight services will be provided by Allegiance Capital for both the projects.
Fred McAllister, vice president at Allegiance Capital, said that Energos has much experience in the renewable energy development sector. The company was delighted to work with an investor who knows the opportunities and risks of wind energy development. To convert the status of the projects from their current "Greenfield" stage to “construction ready” stage, development support and capital are vital. Development for the projects has started and they are anticipated to commence production in 2014.
During the past 18 months, transactions for four renewable energy projects have been closed by Allegiance Capital. Currently, the company has many active engagements in electrical transmission and distribution and renewable energy sectors.
Fred McAllister said that Texas has long-term plans for the development of energy resources in the state. Renewable energy resources will play a key role for Texas’ energy needs in the future, he added. At present, regulations in Texas favor renewable energy sources. The state is facing challenges for power transmission and seeking ways to construct transmission lines to evacuate power from energy from renewable sources to other parts of the state.
Source: http://www.allcapcorp.com