ERCOT Wind

Project Overview



National Renewable Solutions has been developing a 450 MW footprint in Randall and Deaf Smith Counties for the last eight years. The development is substantially construction ready, but has been stalled due to transmission congestion and basis issues in the Panhandle region of Texas. Congestion issues notwithstanding, the project had secured financeable off-take options by either entering into a P99 10-year hedge, or a 10 year Proxy Revenue Swap offered by ReSurety. The project has over seven years of wind data, had all required permits, had received approval for local tax abatement, secured a term sheet for tax equity, was PTC qualified, had a signed GIA, and all required land for a project up to 250 MW.

The leases and GIA have expired, but could quickly be revived. NRS is monitoring the activity in the ERCOT Panhandle queue regularly, and have noted a significant reduction of wind projects in the panhandle region of the queue. A combination of continued reduction of projects in the queue and the transmission improvements and additional load associated with Lubbock Power and Light into ERCOT in 2021, could result in less severe congestion constrants that would result in favorable financing conditions and allow for an extra 600 – 800 MW of new wind and solar projects in the region. Below is recent summary information about the project company, referred to as Buffalo Wind (Parent) and Northdraw (SPE-Project Company).

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    In mid 2021, NRS was acquired by BlackRock Real Assets – Climate Infrastructure Group* (“BlackRock”) with the intention of accelerating the development of its pipeline of projects toward financing, construction, and operations. With NRS’ on-the-ground development and origination expertise and BlackRock’s capital markets support and global reach, we have positioned ourselves as a major player in the U.S. renewable energy market.

    * BLACKROCK REAL ASSETS OPERATES ONE OF THE LARGEST CLIMATE INFRASTRUCTURE EQUITY INVESTMENT PLATFORMS IN THE WORLD WITH OVER $9.7 BILLION IN TOTAL COMMITMENTS AND INVESTMENTS IN 450 RENEWABLE POWER AND OTHER CLIMATE RELATED PROJECTS ACROSS 17 COUNTRIES AND 5 CONTINENTS.


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