Blue Canyon, Oklahoma
Blue Canyon commenced full operations in December 2003 with a total installed capacity of 74.25 MW, an expected net energy output of 264.1 GWh per annum and a net capacity factor of 40.6%. Blue Canyon consists of 45 Vestas NM72 1.65MW wind turbines. It is located in the State of Oklahoma. Electricity generated from Blue Canyon is transmitted to Southwestern Power Pool, Inc. and sold to Western Farmers Electric Cooperative.
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Funding
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Debt that was drawn to fund construction of the wind farm was repaid at the start of commercial operations. At that time equity was fully funded (and there is no project debt financing) by a combination of “active” investors (known as the Class B Members) and “passive” investors (known as the Class A Members)
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Revenue
assurance
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All electricity is sold under a long term- offtake contract with a term of 20 years1
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Customers
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Western Farmers Electric Cooperative
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Construction
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Fixed price turnkey engineering, procurement and construction contract with M.A. Mortenson Company and a fixed price turbine and tower supply contract with Vestas US (formerly NEG Micon USA, Inc.)
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Operation
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Full commercial operations commenced in December 2003
Turbine operations and maintenance contract for a 5 year1 term with Vestas US and a BOP operations and maintenance contract for a 5 year1 term with Vestas US.
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Land
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Land leases with 20 year1 tenure and 10 year option to extend
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IFN’s
percentage
ownership
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80% of 50% Class B Membership interests
Remaining 50% Class B Membership held by Zilkha Renewable resources LLC and EHN US America
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Regulatory
regime
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USA Production Tax Credits
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Notes:
1.from 2003