Enel Starts Construction in U.S. of Its Largest Wind Farm Leveraging New Offtake Strategy

Jan 07, 2019 430

Enel, through its US renewable subsidiary Enel Green Power North America, Inc. ("EGPNA"), started construction of the around 450 MW High Lonesome wind farm in Upton and Crockett Counties, in Texas. Once completed, High Lonesome will be the largest wind farm in Enel's global renewables portfolio. The energy generated by a 295 MW portion of the wind farm will be hedged through a Proxy Revenue Swap ("PRS"), a risk management strategy aimed at minimising price and weather-related risks.

"The start of construction of our largest wind project to-date represents a major commitment to growing our business in the US and specifically in Texas," said Antonio Cammisecra, Head of Enel Green Power. "The project underscores our ability to work with partners to tailor energy solutions to fit their needs and continue to manage and deliver to our customers the complex deals necessary in today's evolving energy market. We look forward to continuing to serve as the partner of choice, dedicated to delivering a sustainable energy future."

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SOURCE: https://www.marketwatch.com/

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