The sellers were Pioneer Green Energy, based in Austin, Texas, and Lavaca Wind.
Alterra did not make terms of the transaction public. It placed a $1.6 million security deposit with the local transmission provider.
As part of the project development program, Alterra will undertake certain construction activities to ensure Flat Top will qualify for the U.S. production tax credit.
The PTC this year will pay $23/MWh, adjusted for inflation, for electricity sent to the grid over a project’s first decade of operation.
Alterra
