Rubicon Closes on the Tax Equity Commitment for BayWa’s 250 MW Amadeus Wind Project in West Texas with General Electric
Rubicon Closes on the Tax Equity Commitment for BayWa’s 250 MW Amadeus Wind Project in West Texas with General Electric
NEW YORK, NY, April 7th , 2020 – Rubicon Capital Advisors (“Rubicon”) is pleased to announce that BayWa r.e. Wind (“BayWa”) has secured a tax equity commitment for its 250 MW Amadeus wind project (the “Project”) from a consortium led by GE Energy Financial Services (“GE EFS”). Construction on the Project is underway with completion expected in the fourth quarter 2020. The Project, located near the town of Rotan in West Texas, will qualify for the 100% Production Tax Credit (“PTC”) under the Safe Harbor guidelines. Rubicon acted as exclusive Financial Advisor to BayWa in connection with the tax equity commitment and has been engaged by BayWa to divest its Class B membership interest at COD.
“We are pleased to have worked with Rubicon on securing this critical tax equity commitment in a challenging market environment. The project remains strongly positioned for COD later this year and subsequent sale of the Class B membership interest to a long-term owner” stated BayWa’s CEO Florian Zerhusen.
Rubicon Managing Director Jatin Gupta added, “This is an important milestone for the Project, and we are happy to provide BayWa r.e. Wind with support in structuring and securing this tax equity commitment.”
The Project will provide renewable energy to nearly 75,000 homes. Amadeus environmental benefit could be translated to planting 17million trees annually and will also be employing hundreds of well paying jobs during the construction period. The clean energy produced by the Project will also contribute to Texas’ continued lead in wind power generation, with the state contributing more than one-fourth of America’s total wind generation according to the U.S. Energy Information Administration (“EIA”).
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia, the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $55 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn and Twitter.
About BayWa r.e. renewable energy GmbH (BayWa r.e.)
Across solar and wind, at BayWa r.e we rethink energy how it is produced, stored and best used. We are a leading global developer, service supplier, distributor and energy solutions provider.
We deliver renewable energy solutions worldwide, and have brought over 3 GW of energy online, while managing over 8.3 GW of assets. BayWa r.e is a leading supplier to the solar wholesale market. We also have a rapidly growing energy trading business.
Part of the €17 billion BayWa Group, every day we are working hard to find new solutions, push technological boundaries and actively shape the future of energy. Our US Wind team can be reached at info@baywa-re.us.
##
For additional media inquiries, contact:
David Fitzgerald
T: +353 1 906 0657
E: david.fitzgerald@rubiconcapitaladvisors.com