Marathon Capital Announces Tax Equity Raise for Falvez Energy
Marathon Capital is pleased to announce the successful tax equity capital raise for Falvez Energy’s 163-megawatt Astra Wind Project, located in the Texas Panhandle. GE Energy Financial Services, a unit of General Electric Company (“GE”) and BNP Paribas SA will each provide 50% of the project tax equity. In addition, GE Energy Financial Services will also fund the project’s construction financing facility.
The Astra Wind Project is located in Randall, Castro, and Deaf Smith Counties, and is considered to be in the western portion of the Competitive Renewable Energy Zone (CREZ). The CREZ supplies electricity from renewable sources in west Texas to eastern Texasload areas including Dallas, Houston and San Antonio.
The project was designed and is being constructed to utilize 68 GE 2.4-107 wind turbine generators with advanced performance, reliability and output. The main power transformer is also being supplied by GE. The renewable energy generated by the project will be transmitted through a new 14-mile 345 kV transmission line to the Sharyland Utilities Windmill Substation, via the Electric Reliability Council of Texas (ERCOT). GE will provide day to day operations and maintenance services under a 10-year Full Service Agreement.
Marathon Capital served as the exclusive financial advisor and placement agent to Falvez Energy in the structuring and placement of the tax equity.”Marathon Capital is pleased to have worked closely with the team at Falvez Energy on the Astra wind project. We believe that their experience and creativity will allow them to continue to grow the wind and data center businesses at an impressive rate in the U.S., as well as Mexico and Latin America,” said Matt Shanahan, Managing Director at Marathon Capital.
“Marathon Capital provided the guidance to successfully close the tax equity for the project. We would like to thank Marathon Capital, GE Energy Financial Services, and BNP Paribas, for successfully closing a difficult deal structure,” said Hossein Fateh, Principal of Falvez Energy. Falvez Energy, along with its sister company, WindHQ, is currently pursuing a number of wind energy projects in the Americas, including in Tamaulipas, Mexico, and the Eastern United States. “This achievement is the stepping stone to future growth, taking full advantage of the benefits of a low cost of capital environment to catapult to the next level,” said Leandro Alves, Principal of Falvez Energy.
