Portsmouth, NH (December 18, 2019) – Great Bay Renewables, Inc. (“Great Bay”) is pleased to announce that it has received its second renewable energy royalty under the portfolio-based royalty financing agreement that it completed with Tri Global Energy, LLC (“TGE”) in early 2019.
The announcement issued by TGE on December 17, 2019, is as follows:
Tri Global Energy Sells Illinois Wind Energy Project to Copenhagen Infrastructure Partners
Dallas (Dec. 17, 2019) – Tri Global Energy, a leading originator and developer of utility-scale renewable energy projects, today announced the sale of an Illinois wind energy project, Woodford Wind Energy, to Copenhagen Infrastructure Partners (CIP), the Denmark-based renewable energy specialist focused on clean energy infrastructure.
The Illinois wind project, which is the first wind project developed and sold by Tri Global Energy in Illinois, has applied for two separate phases of interconnection – each phase for up to 400 MW of capacity — in the PJM system.
“This transaction highlights our recent momentum and growth as a developer and further positions Tri Global Energy for continued leadership on clean energy solutions,” said John Billingsley, Tri Global Energy chairman and CEO.
“We look forward to supporting CIP through the Woodford project’s commencement of operations and to expanding our development activities in Illinois and within the PJM interconnection region,” Billingsley said.
Comprised of 31,000 leased acres in the Central Illinois county of Woodford involving over 300 land and homeowners, Woodford Wind Energy will be owned and operated by CIP’s U.S. subsidiary, Woodford Wind, U.S., Inc. Construction of the initial phase of the wind energy project is targeted to begin in January 2021 with the project’s commercial operations expected to commence by the end of the year.
“This is the third project launched via a partnership between Tri Global Energy and CIP. The two companies have already constructed over 500 MWs of wind energy projects,” said Henrik Tordrup, Partner at CIP. “We look forward to our continuing ownership and operating role by expanding our U.S. portfolio of high-quality clean energy projects such as Woodford Wind Energy.”
Since founding the Woodford Wind Energy project in 2018, Tri Global Energy has been the lead project developer. Great Bay Renewables, a subsidiary of Altius Renewable Royalties, is providing royalty financing in support of Tri Global Energy completing project development through the start of construction. Tri Global Energy collaborated with local project developers Americlean Energy Group and Freedom Wind.
For Tri Global Energy, the close of this transaction follows recent announcements of three Texas wind energy projects: the sale of Changing Winds Renewable Energy and Canyon Wind projects (totaling 591 MW) and the start of operations of the 158 MW Gopher Creek Wind Energy project, capping off the company’s 10th anniversary year.
About Tri Global Energy
Tri Global Energy is an independent utility-scale renewable energy originator and developer in the U.S. The company is the leading wind developer in Texas and among the top five leading wind developers in the U.S. Over 3,000 MW of Tri Global’s development projects are either in financing, construction or operation.
Founded in 2009, Tri Global Energy’s mission is to improve communities through local economic development generated by developing and commercializing renewable energy projects. The company currently develops and owns utility-scale wind and solar energy projects in Texas, Nebraska, Illinois, Indiana and Virginia. Tri Global is headquartered in Dallas with regional offices in Lubbock, Texas; El Paso and Forreston, Illinois and Hartford City, Indiana. For more information, visit www.triglobalenergy.com.
About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, New York, Tokyo, Utrecht, and London.
CIP manages five funds and has nearly EUR 8 bn under management. CI I and CI A have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.
CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.
About Great Bay Renewables
Great Bay provides capital to the renewable energy sector in exchange for royalties in renewable energy generating facilities at all stages in their life cycle. Great Bay’s management team has extensive experience in renewable energy development, financing and operations across a range of renewable technologies located throughout the United States. Great Bay is a subsidiary of Altius Renewable Royalties Corp. Learn more about Great Bay at www.greatbayrenewables.com.
For further information, please contact
Josh Levine (jlevine@greatbayrenewables.com) at 617.233.2939