BayWa r.e. Wind, LLC has announced their latest acquisition of a series of legacy projects in Palm Springs, California.
The projects are consolidated in Coachella Wind, LLC, which is wholly owned by the company. The more than 500 turbines were built in the 1980’s and generate about 70GWh annually. The company is already in the process of retrofitting the turbines to qualify for the production tax credit.
“The IRS Notice 2016-31 clarifying the PTC qualification under the PATH Act created an opportunity which value we will capture for this legacy asset while considering the future plans,” says Florian Zerhusen, CEO of BayWa r.e. Wind, LLC, adding that “we are seeking short term offtake contracts with corporate or utilities and welcome offers.”