Sweetwater, Phase 2, Texas
Sweetwater Phase 2 commenced full operations in February 2005 with a total installed capacity of 91.5 MW and an expected net energy output of 361.8 GWh per annum. Sweetwater Phase 2 consists of 61 General Electric sle 1.5 MW wind turbines. It is located in Texas. Electricity generated from Sweetwater Phase 2 is transmitted to the Lower Colorado River Authority and sold to Austin Energy. The net capacity factor is 42.5%.
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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 12 years1
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Customers
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Austin Energy (City of Austin, Texas)
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Construction
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Fixed price turnkey engineering, procurement and construction contract with Renewable Energy Systems and a fixed price turbine and tower supply contract with General Electric Wind
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Operation
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Full commercial operations commenced in February 2005
Turbine and BOP operations and maintenance contracts for 5 year1 term with General Electric Wind
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Land
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Land leases with 30 or 40 year tenure2
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IFN's
percentage ownership
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50% of Class B Membership interests. Remaining 50% Class B Membership held by Catamount Energy Corporation
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Regulatory
regime
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USA Production Tax Credits
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Notes:
1. from start of operations: 2005
2. from 2004