Colorado based renewable energy developer and a portfolio company of Quinbrook Infrastructure Partners, Scout Clean Energy has achieved financial closing for the 300MW Ranchero wind farm, to be located in Crockett County, Texas.
Scout Clean Energy stated that the wind farm will be operational by this year-end. For this wind farm, Scout has secured a 10-year proxy revenue swap with Allianz Global & Specialty’s Alternative Risk Transfer unit, in partnership with Nephila Climate.
Scout Clean Energy CEO and founder Michael Rucker said: “We are proud of the great work our Scout team has done with our partners and the local community to get to this point. Ranchero is our first greenfield project since our launch as an owner-operator and it will bring Scout’s owned portfolio of wind energy generation to over 500MW.
“Ranchero will provide clean renewable energy for Texas industry and thousands of homes, as well as up to 200 jobs during construction and up to 10 permanent jobs during operations.”
The Ranchero wind farm will be powered by 120 of GE’s 2.5MW wind turbines with 127m rotors. The company has entered into a fixed price balance of plant construction agreement with RES Americas. Construction management and post-construction operations will be undertaken by Harvest Energy Services, a Scout subsidiary.
Rucker said: “That Scout Energy has been able to accomplish so much in such a short time is a testament to our incredible team of experienced energy professionals.
“Ranchero is another important step in our growth as a company and we expect to announce several other renewable energy projects being financed and built over the next 12-18 months.”
In November, Scout secured local permissions for the construction of the 130MW Bitter Ridge Wind Farm in Jay County, Indiana. This wind project will include 59 turbines, spread across 12,000 acres of land and is expected to begin operations early next year.
And in September, Quinbrook, the parent company of Scout commenced operations at the 200MW Persimmon Creek wind farm in Oklahoma. This wind farm has 73 of GE’s 2.5MW and 7 of GE’s 2.3MW turbines. It is located across 17,000 acres of land spread in Dewey, Ellis and Woodward counties in the state.