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Scout Clean Energy closes $255M financing for 180-MW wind farm in Texas

Scout Clean Energy LLC closed $255 million in construction financing and tax equity commitments for a 180-MW wind farm in McCulloch County, Texas.

The Colorado-based renewables developer owns and operates the Heart of Texas Wind Project. The project hosts 64 units of General Electric Co.'s 2-MW platform wind turbines and is expected to begin operations by April 2020. Scout Clean Energy will undertake asset management and post-construction operations.

Scout Clean Energy, a portfolio company of Quinbrook Infrastructure Partners Pty. Ltd., acquired the project from Renewable Energy Systems Americas Inc., which will complete the plant's construction. Originally, the project was being developed as part of the second phase of the RTS Wind Power Project (Rattlesnake Wind Project) also in McCulloch County. The first phase of that project began operating in 2018.

The company said the output of the new wind project will be sold to business insurance provider Allianz Global Corporate & Specialty Inc.'s Alternative Risk Transfer unit in partnership with Nephila Climate. Allianz Global is part of Allianz Group.

"Heart of Texas is our third successive wind farm closing as an owner-operator and brings Scout's owned portfolio of wind generation to 700 MW," Scout founder and CEO Michael Rucker said in a Sept. 26 news release.

Financing was provided by KeyBank as administrative agent, Rabobank and CoBank ACB. GE Energy Financial Services underwrote and committed a portion of the tax equity financing.