The Logan’s Gap Wind facility located in Comanche County, Texas is up and running. A majority of the power created from the 200 MW wind farm will be sold to Walmart via a long-term power purchase agreement.
“Logan’s Gap Wind is our fourth operational wind power facility in Texas and we are now serving three different regions throughout the state,” noted Mike Garland, CEO of Pattern Energy, who built the wind farm. “We continue to bring new facilities online both on time and on budget, demonstrating our ability to execute on our growth strategy. We are pleased to be working with one of the leading corporations in the world as it acquires renewable energy and lowers its carbon footprint. We are increasingly partnering with America’s leading companies as they recognize that wind power, which continues to decline in cost, is both good for the environment and good for business.”
The facility will sell 75 percent of the electricity produced to Walmart and a financial institution. Walmart has a 10-year power purchase agreement to acquire 58% of the expected output from the facility. Seventeen percent of the expected output will be sold under a 13-year fixed price agreement with a A-/Baa2-rated financial institution. The remaining 25 percent of expected output will be sold at ERCOT spot market prices.
“Walmart has a goal to be supplied by 100 percent renewable energy, and sourcing from wind energy projects — like the Logan’s Gap Wind Facility — is a core component in the mix,” added Mark Vanderhelm, vice president of energy for Walmart. “The energy we’ll procure from this facility represents nearly one-fifth of the U.S. portion of our goal to source seven billion kilowatt hours of renewable energy by 2020. That’s a significant leap forward on our renewable energy journey.”