Tri Global Energy (TGE), an originator and developer of utility-scale renewable energy projects, has entered into an agreement to sell two renewable energy projects – the 180 MW Hoosier Line Wind project and the 400 MW Honey Creek Solar project – to Leeward Renewable Energy, a growth-oriented renewable energy company that owns and operates a portfolio of approximately 2,000 MW of generating capacity.
The wind and solar power projects, located in White County in northwestern Indiana and targeted to be operational as early as 2023, represent the first deal between the two Dallas-based companies and the first renewable project sales for TGE in Indiana. TGE has regional offices in Reynolds and Harford City, Ind., and also has other renewable projects under development in the state.
“Hoosier Line Wind and Honey Creek Solar represent a significant milestone for TGE, our first expansion to Indiana,” says John Billingsley, chairman and CEO of TGE. “We couldn’t be more excited to begin a new relationship with Leeward, who shares our commitment to develop and expand clean energy and to invest in the advancement of local communities.”
Since the origination of these projects in 2019, TGE has been the project developer. The company will continue as a co-development partner under the sale arrangement with Leeward Renewable Energy. With 50 landowners involved in the projects, both Hoosier Line Wind and the Honey Creek Solar have gained strong support in White County. PJM utility interconnection and environmental studies are currently underway.
Great Bay Renewables, a joint venture company between certain funds managed by affiliates of Apollo Global Management Inc. and Altius Renewable Royalties Corp., is providing royalty financing in support of TGE completing and funding these projects’ development through the start of construction.