In Texas, particularly in the west, wind is an abundant resource.
And companies certainly take advantage of this. West Texas is home to numerous wind farms, with no shortage of plans in the making.
Next month, more wind power-related construction will begin due to newly announced loan financing for one company.
Wind Energy Transmission Texas LLC (WETT), a joint venture of Brookfield Asset Management Inc (NYSE: BAM) and Madrid’s Isolux Corsán Concesiones SA, will receive $500 billion in loans from an unnamed group of banks.
This financing will push ahead a power line project that will carry wind energy from 12 west Texas counties to the power grid in order to power cities across the state.
The power lines will consist of five substations and transmission lines capable of carrying 345 kilovolts, reported the SF Gate.
The transmission lines will extend for 378 miles across the state. WETT representatives have indicated that construction will begin as early as September, with hopes to have the project complete by 2013.
Wayne Morton, WETT’s general manager, has said of the project, “By finalizing our financing, WETT will help ensure Texas remains a global leader in wind energy, while creating jobs in West Texas over the next several years.”
The project, the SF Gate reports, should be able to expand the transmission capacity of western Texas from 10 gigawatts to 18 gigawatts.
And the venture has already received proposals to connect the lines to planned wind farms.
Wind Energy Transmission Texas received the contract for their project by the Public Utility Commission of Texas.
According to the contract, WETT will be fully in charge of building, operating, and maintaining the lines.
Isolux Ingenieria USA LLC, a sector of Isolux Corsán, has been appointed to design and build the lines.
Not only will this create new jobs during the construction period, but it will also broaden the possibilities for clean energy across the state of Texas and expand the possibilities for wind farm companies involved in the area.
That’s all for now,