Panhandle Wind 2

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Location Carson County, Texas
Power Purchaser An affiliate of Morgan Stanley
Turbine Manufacturer Siemens Energy
Turbine Size 2.3 MW
Number of Turbines 79
Project Capacity 182 MW
Revenue Hedge
Contract Tenor > 10 years
Commercial Operation November 2014

Panhandle Wind 2, a 182 MW project, is part of the 400 MW Panhandle Wind development located in Carson County, Texas. Panhandle Wind 2 consists of 79 2.3 MW Siemens turbines.

The Panhandle Wind 2 project began construction in December 2013 concurrent with the execution of Pattern Energy's acquisition agreement and the execution of a non-recourse project construction financing with affiliates of Morgan Stanley. The project began commercial operations in November 2014. Construction of the Panhandle Wind project, including Panhandle 2, was performed by Mortenson Construction, a leading wind power construction provider with whom we have worked in the past.

Approximately 80% of the output is contracted under a long-term, energy price hedge, with an affiliate of Morgan Stanley, with the balance paid at ERCOT’s spot market prices. Panhandle connects to Cross Texas Transmission, LLC’s 345 kV transmission line. Cross Texas Transmission, LLC is a wholly owned subsidiary of LS Power.

The Panhandle Wind 2 project is located on approximately 40 distinct land parcels and has entered into long-term lease agreements with the landowners.