Wind Energy Transmission Texas LLC Finalizes Half-Billion Construction Financing Loan

Texas Business reports:  AUSTIN—Wind Energy Transmission Texas LLC executed a loan of over a half-billion dollars with a consortium of financial institutions.

The financing will be used to construct five (5) 345kV substations and approximately 378 miles of 345kV transmission lines in West Texas.

 Isolux Ingeniería USA LLC was selected by WETT as the engineering procurement and construction contractor. The new facilities and transmission lines will bring clean, renewable wind energy from West Texas to the major metropolitan areas throughout the state.

“Our team has the expertise and has an international reputation for quality engineering, construction, operation and maintenance, said WETT general manager Wayne Morton in a prepared statement. “By finalizing our financing, WETT will help ensure Texas remains a global leader in wind energy, while creating jobs in West Texas over the next several years.”

WETT was originally awarded a contract by the Public Utility Commission of Texas to construct, operate and maintain high-voltage transmission lines in 12 West Texas counties as part of the Texas Legislature’s Competitive Renewable Energy Zone (“CREZ”) project. The completion date for this contract is 2013.

Construction activities will begin next month. The facilities are on schedule for completion in the second quarter of 2013.

Wind Energy Transmission Texas, LLC is a joint venture between Brookfield Asset Management and Isolux Corsán Concesiones  to build and operate high-voltage greenfield transmission lines in Texas.