(Credit: Pixabay)Scout Clean Energy, a Colorado based renewable energy developer and operator, recently announced the closing of construction financing and tax equity commitments for the 130 MW Bitter Ridge Wind Farm in Jay County, Indiana.
Bitter Ridge has been developed by Scout and will be owned and operated long-term by Scout's dedicated asset management team. Scout is a portfolio company of Quinbrook Infrastructure Partners, a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the US, UK and Australia.
Construction on Bitter Ridge, which is located on approximately 10,000 acres in Jay County has all turbine foundations complete ahead of the winter season. The project will utilize 52 of the latest generation GE 2 MW platform wind turbines. Scout has signed firm purchase orders for the supply of the wind turbines with General Electric and has entered into a balance of plant construction services agreement with Mortenson.
As previously announced by Scout earlier this year, a 15-year Power Purchase Agreement has been signed with Constellation, an Exelon company, for the long-term purchase of approximately 80% of the renewable energy and capacity generated by Bitter Ridge.
According to the EPA's Greenhouse Gas Equivalency Calculator, Bitter Ridge is predicted to offset more than 292,000 metric tons of carbon dioxide emissions annually and over 10 million metric tons during its operating life. Scout estimates that Jay County will receive more than $18 million in tax revenue from Bitter Ridge over the operating life of the project, with over half going to directly supporting local schools in Jay County. Additionally, Jay County will receive $1.56 million in economic development payments made by Bitter Ridge for the benefit of several local community initiatives.
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