The Texas-based Foard City wind project was acquired in the first quarter of 2018, as part of the Alterra acquisition. The project has a 12-year power purchase agreement for 300 MW of its 327.6 MW capacity, sales of which will start upon the facility reaching commercial operation.
The Foard City wind project encounters delays in obtaining specific permits which could result in a reduction of the project size and impact the gross estimated long-term average production, total project cost and its commercial operation date which was postponed to the fourth quarter of 2019.
On May 8, 2019, the Corporation announced the closing of a construction loan and tax equity commitment for the Foard City wind project. The construction financing amounts to US$290.9 million ($388.7 million), backed by a US$275.0 million ($367.5 million) tax equity commitment and a US$23.3 million ($31.1 million) 7-year term loan facility with a 10-year amortization period to be provided by lenders upon the commercial operation date.
|Energy|| Wind energy|
|Capacity - Gross (MW)||327.6|
|Innergex participation (%)||100|