Current Wind Projects
Bull Creek Wind LLC: Phase 1
BNB fully developed a 180 MW, 30,000-acre plant now in operation in Borden County, Texas. Having acquired the principal leases, filed for interconnection, retained the required permits for construction, initiated the tax abatement process, and monitored the wind for one year, BNB sold 51% of its interest in Bull Creek to Eurus Energy America. Eurus Energy is a wholly owned subsidiary of Tokyo Electric Power and Toyota. Together with Eurus, BNB developed Bull Creek in a joint venture partnership, securing a Mitsubishi turbine contract, receiving full tax abatement, and interconnection agreements by Summer 2007. Just prior to commencement of construction BNB sold its remaining interest in phase 1 to Eurus, and retains a Gross Proceeds Interest in the company as well as an ongoing management role in the project.
Buck Creek LLC: Phase 1
One of two separate wind farms BNB has targeted for near term development, Buck creek is estimated to generate in excess of 120MW. Buck Creek is directly adjacent to Bull Creek, the first wind farm we developed in the area. BNB is presently coordinating development plans with existing oil development projects in place on Buck Creek with additional lease options in place ready to execute with funds held in escrow as we work out a reasonable "surface accommodation agreement". We intend to have both Buck Creek and Mesquite Creek (below) prepared for construction in concert with the energizing of the new CREZ lines in our area, now expected by the second quarter of 2013. By the end of this quarter, we will be commencing the search for a strategic utility partner for these wind farms.
Mesquite Creek LLC: Phase 1
Only 7 miles to the southwest of Buck Creek, BNB has secured ground lease options for over 17,537 acres to construct a 250MW utility scale wind generation power plant. In addition BNB has identified another prime area in close proximity holding 150-250 additional megawatts. BNB has been granted 100% tax abatement for the Dawson County Tax, and confirmed that the sighting for the CREZ substation in our area has been selected within the land we have under lease, only 3 miles from the center of the Mesquite Wind Farm, and about 5 miles south of Buck Creek. This is an ideal location for the efficiency of these projects, because of the short distance to the ERCOT grid. Our next phase of development involves pursuing our Interconnection Agreements and we expect to have these in place by the second quarter of 2011, increasing our acreage position to accommodate up to as much as 500MW.