Terna announces new US investment

18 April 2019

Greek renewable energy developer Terna Energy has paid $310 million for a 200 MW wind farm in Texas, USA.

The investment is Terna’s fourth in the US wind energy market and will bring its portfolio of under-construction or operable wind farms in the country to 651 MW. It will help to further cement the company’s financial growth prospects, according to George Peristeris, Chairman of Terna.

“About 10 years ago, we decided to expand our Group’s RES activities to the US market, seeing significant prospects,” said Peristeris. “Our choice was vindicated, as our investments in wind farms in the USA have contributed significantly to the Group's growth as well as its international recognition, while offering significant benefits to our shareholders.”

Terna’s latest wind farm acquisition started commercial operation 15 months ago. The company has been operating two wind farms in the US, one of 138 MW in Elmore County, Idaho and one more of 155 MW in Scurry County Texas (Fluvanna 1), while another one of 158 MW is under construction also in Texas (Gopher Creek – Fluvanna 2) and is expected to commence commercial operation in 2019.

Terna also has renewable energy installations currently under construction or ready for construction with a capacity of 280 MW in Greece and abroad. Overall, the company operates, is constructing or has full licensing of 1512 MW of renewables installations in Europe and the USA. The Company is targeting to reach 2000 MW of renewable energy projects in operation.

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