E.ON Climate & Renewables, Allianz Capital Partners and State Street Corporation Close Colbeck’s Corner, LLC Tax Equity Financing
E.ON Climate & Renewables North America , Allianz Capital Partners (Allianz), and State Street Corporation (State Street)recently announced tax equity financing in exchange for partial interest in the Colbeck’s Corner, LLC Wind Farm (Colbeck’s Corner).”We are delighted to partner with Allianz and State Street on the Colbeck’s Corner transaction,” said Dr. Verena Volpert, Senior Vice President, Group Finance, E.ON SE. “EC&RNA produces quality renewable energy projects which continue to attract strong interest from established investors such as Allianz and State Street.”
“Allianz is delighted to be partnering with E.ON and State Street on the Colbeck’s Corner wind project. We look forward to co-operating to ensure the success of the project and, hopefully, to working together on other investments in future,” said David Jones, Head of Renewables at Allianz Capital Partners.Located in Carson and Gray counties, 37 miles east of Amarillo, Texas, Colbeck’s Corner is a 200.48 megawatt wind farm. Colbeck’s Corner has 112 GE 1.79-100 turbines that can create enough electricity to power approximately 64,000 homes. EC&RNA has developed more than 3 gigawatts of wind projects in the United States since 2005.
“Wind farms such as Colbeck’s Corner produce clean, reliable, and affordable homegrown American energy for many years,” said Patrick Woodson, Chairman, EC&RNA. “Equally important, projects like these create much needed immediate and long-term economic impact through temporary and permanent jobs and increased tax revenue to rural areas. We appreciate the assistance of our landowners and area officials leading up to the commercial operation of Colbeck’s Corner.”
A team of nearly 240 construction workers completed the Colbeck’s Corner project, and 16 personnel, including skilled technicians, are stationed on-site day-to-day. During the next 25 years, Colbeck’s Corner is projected to generate more than $32 million in property taxes combined for Carson and Gray counties. This additional revenue will support essential county services and local schools.