Sammons Renewable Energy has acquired Midway Wind, LLC, from Apex Clean Energy. Franklin Park Investments identified and assisted with structuring the deal and closing the transaction on behalf of SRE.
The Midway Farms Wind Project is located in San Patricio County, on 16,000 acres between the towns of Portland and Taft. Situated near the Texas Gulf Coast, the project is approximately 15 miles northeast of Corpus Christi. Plans for the project include construction of 47 Siemens Gamesa G132 turbines for a total project capacity of 162.9MW. The project has an anticipated commercial operation date of December 2018.
“Midway’s location near Texas' wind-rich Gulf Coast, and its proximity to the Electric Reliability Council of Texas’ South Hub, position the development to fill an energy gap that will widen as coal-generation in ERCOT is retired,” said Heather Kreager, chief executive officer of Sammons Enterprises, the parent company of Sammons Renewable Energy.
The project is anticipated to offset approximately 480,000 tons of carbon dioxide emissions per year.
“Midway Wind yet again shows the promise and value of wind energy on the Gulf Coast of Texas,” said Mark Goodwin, president and chief executive officer of Apex.
Midway is Sammons Renewable Energy’s first wind acquisition in the company’s home state of Texas,
The transaction closed on December 27. Akin Gump Strauss Hauer & Feld provided legal advice and Leidos Engineering, LLC provided engineering advice. Franklin Park Investments will manage this project on behalf of SRE. Details of the deal were not disclosed.
Graphic: Digital rendering of Midway Wind Farm (San Patricio Economic Development Corp)