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Alta Wind Energy Center

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The third largest onshore wind energy project in the world

Irvine, United StatesFounded 2010Energy
Valuation $500M–1B Last recorded · 2011
Total funding $100–500M Disclosed equity funding
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About Alta Wind Energy Center

The Alta Wind Energy Center (AWEC), also known as the Mojave Wind Farm, is an onshore wind energy project located in the Tehachapi Mountains of Kern County, California. The project's genesis traces back to the 'Alta-Oak Creek Mojave' initiative, originally conceived by Allco Finance Group in the early 2000s. Following Allco's bankruptcy, Terra-Gen Power acquired the project in 2008 for $325 million and took over its development.

Construction on the multi-billion dollar project officially began in July 2010, after Terra-Gen secured an initial $1.2 billion in financing from partners including Citibank, Barclays Capital, and Credit Suisse. The wind farm was developed in multiple phases, with the first turbines becoming operational in 2010. The entire development, spanning over 3,200 acres, consists of approximately 600 turbines from manufacturers like GE and Vestas, installed at altitudes ranging from 3,000 to 6,000 feet. As of 2022, the facility's combined installed capacity reached 1,550 MW, making it the largest wind farm in the United States.

The primary client for the energy generated is Southern California Edison (SCE), which entered into a 25-year power purchase agreement (PPA) in 2006 to buy up to 1,550 MW of electricity. This arrangement underpins the project's revenue model, providing a long-term, stable income stream. The electricity produced serves hundreds of thousands of California homes. In 2014, Terra-Gen sold the operating assets of the Alta Wind Energy Center to NRG Yield (now Clearway Energy) for approximately $870 million, though Terra-Gen's operating company continues to provide asset management and O&M services.

The Alta Wind Energy Center is a utility-scale power generation asset. Its product is electricity, which is sold wholesale to a major utility. The facility's key feature is its substantial scale and strategic location in a high-wind resource area. The project connects to the grid via the Tehachapi Renewable Transmission Project, a significant infrastructure upgrade by SCE designed specifically to transport renewable energy from the region to load centers. The project represents a significant contribution to California's renewable energy portfolio, helping to reduce carbon dioxide emissions by over 5.2 million metric tons annually.

Source: Dealroom company data

At a glance

Status
Closed
Founded
2010
Headquarters
Irvine, United States
Open positions
None listed
Dealroom signal
0.0/100
Industry
Energy
Sub-industry
Clean Energy
Sector
Energy, Wind Energy, Sustainable Development Goals, Climate Tech, Renewable Energy, Hard Tech
Business model
Manufacturing
Client focus
b2b, b2c

Funding history

1 recorded event

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
LATE VCOther financing Jun 2011 $102M $408M Alphabet | Google —
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Growth signals

Alta Wind Energy Center website traffic

Latest recorded traffic for Alta Wind Energy Center is 40 monthly website visits.

Latest monthly visits40
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Investments and acquisitions

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Investors

1 investor on the cap table

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Series B and later1 investor entered at this stage

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Global footprint

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Workforce by country
🇺🇸 United States · Irvine HQ
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Market sentiment

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