Senvion signs conditional contract in USA for 275 MW
Third large-scale order for 4.2M140 turbine within a month
Denver, Hamburg: Senvion signed agreements for the supply and commissioning of 275 megawatts (MW) of wind turbines with the TG East Wind Project that is owned by Taaleri Energia Ltd. NorthRenew, a renewable energy development firm, will co-develop the project with Taaleri. Senvion will supply 58 Senvion 4.2M140 turbines with a hub height of 110 meters as well as ten Senvion 3.2M114 turbines at 93 meter hub height. Commercial operations will commence in 2020. The agreements include a 25-year full service operations and maintenance contract.
The TG East Wind Project is located in Knox County, Texas, and will generate over 1 million megawatt hours (MWh) of renewable electricity per year. The project will benefit from the federal production tax credit (PTC) at the 100% level and provide substantial economic benefits to the local community, in the form of landowner royalties, increased jobs, and tax revenues to the county and school district.
David Hardy, Executive Director and Chief Sales Officer of Senvion Holding, comments: "We are excited to be back in the US and see this as a showcase project for our new and highly competitive 4.2M140. Obviously, size is one thing, but lowest LCoE is really what is driving the decision for Taaleri and NorthRenew and we are glad to have helped them realize this project and bring it to fruition."
Lance Marram, Chief Executive Officer of Senvion in North America, explains: "We are pleased to be working in partnership with Taaleri and NorthRenew for the TG East Wind Project. Our 4.2M140 turbine maximizes yield and creates long-term business case certainty for our customers' investments and our 25 year full service operations and maintenance contract is a testament to this."
Don Curry, President of Taaleri Energia Ltd. North America, adds: "The TG East Wind Project represents the expansion of Taaleri's global footprint into the North American marketplace as a leading sponsor, and it is a great addition to our portfolio. The project has very favorable attributes, and offers a superb opportunity to advance towards commercial operations alongside our partners, Senvion and NorthRenew."
Garth Klimchuk, Managing Partner of NorthRenew, adds: "We are honored to have been able to bring together such an excellent team that includes the successful deployment of 100% PTC-qualified equipment within this extremely attractive project. We look forward to continuing the successful completion of the project that will utilize one of the largest turbines in North America."
Senvion is a leading global manufacturer of onshore and offshore wind turbines. The company develops, produces and markets wind turbines for almost any location - with rated outputs of 2 MW to 6.33 MW and rotor diameters of 82 metres to 152 metres. Furthermore, the company offers its customers project specific solutions in the areas of turnkey, service and maintenance, transport and installation, as well as foundation planning and construction. The Senvion systems are mainly designed in the major TechCenters in Osterrönfeld and Bangalore and manufactured at its German and Portuguese plants in Bremerhaven, Vagos and Oliveira de Frades as well as in Żory-Warszowice, Poland and Baramati, India. With approximately 4,200 employees worldwide, the company makes use of the experience gained from the manufacture and installation of more than 7,500 wind turbines around the world. The company's operational subsidiary Senvion GmbH is based in Hamburg and represented by distribution partners, subsidiaries and participations in European markets such as France, Belgium, the Netherlands, the UK, Italy, Romania, Portugal, Sweden, and Poland as well as on a global level in the USA, China, Australia, Japan, India, Chile and Canada. Senvion S.A. is listed on the Prime Standard of the Frankfurt Stock Exchange.
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group's operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Ltd Group and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, Ficolo Oy developing data centers, and Turun Toriparkki Oy and Munkkiniemi Group Oy that are real estate project companies. At the end of June 2018, Taaleri had assets under management totalling EUR 6.0 billion and 4,600 asset management customers. Taaleri Plc has some 4,100 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority. More information about our company and services: www.taaleri.com/en www.fellowfinance.fi/en www.garantia.fi/en
NorthRenew Energy is a renewable energy development company focused on acquiring early stage wind and solar projects throughout North America that can deliver attractive current income and limited downside risk through the early application of critical project development skillsets. NorthRenew's partners have over 150 years of collective experience in all aspects of project development having been involved in over 200 transactions representing more than 5,000 megawatts of capacity and $100 billion in transaction value across a wide range of renewables, traditional power, utility and real estate transactions. The company is presently developing over 1,000 megawatts of projects in Texas, Pennsylvania, Illinois and Colorado. Visit NorthRenew on the web at www.northrenew.com.
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