RES Americas and Canada’s Algonquin Power & Utilities (APU) have formed a 50-50 joint venture to develop the $700m, 480MW Maverick Creek wind farm in central Texas that is eligible for the federal production tax credit (PTC) at 100% value.
Construction is scheduled to begin in September and conclude in late 2020. It will provide slightly less than 2,000GWh/year, according to APU, with some of that committed under a 15- year virtual power purchase agreement with branded consumer foods giant General Mills and another “investment grade counterparty.”
