April 11, 2019
Invenergy Announces it has Surpassed $5 Billion in Texas Investments
Invenergy has completed more than $5B in transactions for its Texas-based projects, bringing more than 3,000 megawatts of electricity online while creating more than 2,000 construction and 140 operations jobs in the Lone Star state to date.
CHICAGO (April 11, 2019) – Invenergy, a leading privately held U.S.-based sustainable energy developer and operator, recently announced the completion of construction financing for the 300megawatt Santa Rita East wind project near San Angelo, TX. With this latest project, Invenergy has developed and built 16 energy generation projects in the State of Texas, representing over $5 billion in total investment, with additional projects in development.
With its vast energy resources and an easily accessible electricity grid, Texas is the number one energy producing and consuming state in the U.S. Texas has long been an energy leader in fossil fuel production, and now, thanks to Texas’ pro-business approach to energy production, it’s also a leader in sustainable energy generation. With the state’s growing reliance on sustainable energy to modernize its electricity generation portfolio, Invenergy is playing a key role in Texas’ energy future.
“Invenergy develops and operates projects around the world and Texas is our largest market. We are proud to be a part of the Texas energy story and to provide affordable, reliable and secure energy solutions that help solve the energy challenges facing Texas,” said James Williams, Vice President of Renewable Development at Invenergy. “Be it wind, solar, natural gas, advanced energy storage or other sustainable energy solutions, Invenergy is dedicated to Texas, and we look forward to helping the state maintain its position as an energy leader for years to come.”
Driving Economic Development
In addition to affordable and reliable energy solutions, Invenergy brings important economic benefits to the Texas communities that host its projects.
In 2018 alone, Invenergy directly invested nearly $30 million in Texas communities through wages and benefits, landowner payments and tax revenue. To date, Invenergy projects have created more than 2,000 construction jobs and 140 Texans currently work for Invenergy as full-time operations and maintenance staff. Tax revenues from Invenergy projects support community services, strengthen schools, improve infrastructure, and fund critical police, fire and
EMT departments leading to a higher quality of life for residents.
Being a responsible partner has been key to Invenergy’s success, and the Santa Rita East Wind project reflects this commitment to communities. Santa Rita East is currently under construction outside of San Angelo, TX in Irion County, and this project was possible, in part, because of the strong community support of an earlier Invenergy-developed project, the Santa Rita Wind Energy Center.
“I’ve been in this community all of my life, raised my kids and went to school here,” noted Mike Elkins, former county judge and director of the Irion County volunteer fire department. “Invenergy came in like a lot of other companies do and we didn’t know what to expect of them. But it’s all been a plus. It’s refreshing to tell you the truth, what they’ve done for us. And we look forward to the future.”
Sustainable Energy Today
It is an exciting time for energy in Texas. Economic, environmental and social sustainability are not just priorities for Texans, they are at the core of Invenergy’s business. Our diverse sustainable energy platform provides solutions to Texas’ energy challenges, while supplying sustainable, affordable and diversified energy across the state and driving economic development.
Learn more about Invenergy’s commitment to Texas at: www.invenergytexas.com
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy has successfully developed more than 22,600 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation facilities as well as advanced energy storage projects. For more information, please visit www.invenergyllc.com.