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Desert Sky: A blow out wind deal

01 December 2002

Read more: [desert sky project] [wind farm] [AEP] [project finance]

American Electric Power has closed financing on a 160MW wind farm, the first such deal in over two-and-a-half years. It promises to be the start of a series of such financings to hit the market in the next 12 months - before the US tax authorities look at renewing the renewable rules. It also confirms AEP in its strategy of selective raids on the non-recourse debt markets - the deal sold down in a terrible market.

Desert Sky's main claim to fame before this was as a former Enron Wind property - part of the suite of assets that the troubled energy trader divested during Chapter 11 proceedings. It was formerly called the Indian Mesa wind farm, and is located in Pecos County, in Texas. It covers an area of around 8000 acres, split between a number of large landowners, although the remote and barren landscape makes it ideal for wind production.


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