HOUSTON, May 16, 2024 (GLOBE NEWSWIRE) -- Fengate Asset Management (Fengate), investor and developer of the 160-megawatt (MW) Prairie Switch Wind project in Wharton County, Texas, has celebrated the project’s completion with a ribbon cutting ceremony.
Fengate was joined by project partners and the local community at an on-site ceremony yesterday, May 15, to cut the ribbon to officially open the 48-turbine wind farm. Less than a year-and-a-half after starting construction, the turbines stand as a testament to Fengate’s commitment to sustainable infrastructure development.
“Fengate invests in high-quality, sustainable projects that are not only good investments, but good for the environment, and good for the communities we serve – the Prairie Switch Wind project is all of those,” said Greg Calhoun, Managing Director, Infrastructure Investments at Fengate.
Prairie Switch Wind will reduce grid-related greenhouse gas emissions in Texas by an estimated 190,000 tonnes of CO2e annually – the equivalent of taking 91,000 gasoline-powered cars off the road every year.
"The completion of this project marks a significant milestone in our commitment to investing in, developing, and operating renewable power assets. This project not only contributes to the reduction of greenhouse gas emissions in Texas, but also supports local communities through job creation and property tax payments," said Mr. Calhoun.
The project has created more than 200 local jobs and invested $12 million into the community throughout construction, and is set to generate enough clean energy to power 50,000 average households annually.
The state-of-the-art 3.4 MW turbines, supplied by General Electric, are specifically designed to meet the unique weather challenges of the region and will provide reliable, sustainable energy to the grid for decades.
Fengate is managing this investment on behalf of the Fengate Infrastructure Fund IV and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.
About Fengate
Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies, with US$6 billion of capital commitments under management. The firm has been investing in infrastructure since 2006 with a focus on mid-market greenfield and brownfield infrastructure assets in the transportation, social, energy transition and digital sectors. Fengate is one of North America’s most active infrastructure investors and developers with a project portfolio of more than 45 assets, valued at over US$14 billion. Learn more at www.fengate.com.
Media Contact
Maddison Sharples
Director, Marketing and Communications, Infrastructure
Fengate Asset Management
+1 416-254-3326
Maddison.Sharples@fengate.com
Photos accompanying this announcement are available at
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