PacifiCorp signed a 30-year power purchase agreement for the output of a wind farm under development in Wyoming.
Innergex is developing the 330 MW Boswell Springs Wind Project, which will connect to the PacifiCorp power grid at the Freezeout Substation in Carbon County, Wyoming via the Last Mile Transmission Project.
At 320 MW, the PacifiCorp PPA accounts for nearly all of the project’s expected capacity.
Construction of the Last Mile Transmission Project is expected to begin in January. Work on the Boswell Springs Wind Project is slated to be underway in June with commercial operation planned for Q4 2024 for an initial term of 30 years.
Total construction costs of the Boswell Springs wind project are expected to amount to $544 million of which $41 million has already been invested.
Total financing including tax equity is expected to amount to around 90% of total costs. The remaining sponsor equity not already invested is expected to be financed from Innergex’s revolving credit facilities.
The financing and tax equity investment process is progressing well, the company said, and on-site construction activities will ramp up in Q2 2023.
Excluding any financing structure which has yet to be concluded, operating cash flows from the Boswell Springs Wind Project are expected to reach approximately $22.6 million on an annual basis. The project is expected
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