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Silverpeak acquires 360-MW wind project in Texas from Tri Global Energy

Investment management firm Silverpeak, through its energy group Silverpeak Strategic Partners LP, acquired a 360-MW wind farm development in Scurry County, Texas, from Tri Global Energy LLC.

Terms of the deal were not disclosed.

The wind project is in late-stage development and holds a preestablished interconnection agreement with Oncor Electric Delivery Co. LLC, Silverpeak said in an Oct. 1 news release.

In a separate statement, Tri Global Energy identified the project as its Canyon Wind Project. Tri Global said it will remain lead developer of the project through its financing and construction.

"We are particularly excited about this development being situated on the 'right' — or eastern — side of ERCOT West, which is devoid of transmission congestion that could affect the pricing and return for producing reliable, economical, and eco-friendly electric power," said Santosh Raikar, Silverpeak managing partner and head of Silverpeak's Renewables group.

Silverpeak Renewables allows institutional investors to invest in power projects using established renewable energy technologies including wind, solar and battery storage.