Alterra Power completed the acquisition of the Shannon wind project, a 202-MW wind farm in Clay County, Texas, from Horn Wind. Alterra also placed a $4.5 million cash deposit with Oncor, the project's transmission service provider, which will now begin the design and equipment procurement for the project's interconnection substation. In December 2013, Alterra completed certain construction activities to ensure the Shannon project will qualify for the U.S. Production Tax Credit, which included contracting with Mortenson Construction to complete the initial phase of on-site construction and contracting with Siemens Energy to begin manufacturing the project's main power transformer. Project financing is estimated to close the second quarter of 2014.
