The Wind Energy Transmission Texas (WETT) consortium, made up of Brookfield Asset Management and Isolux Corsan Concesiones, has financing in place for a 378-mile transmission line and five 345kV substations.
The line will connect projects in the west with more populous areas in the east of the state. WETT was awarded the contract by the Texas Public Utilities Commission with the aim of completing the project in 2013.
The line will allow Texas to expand its transmission ready wind capacity from 10GW to 18GW.
WETT said the $500 million was provided by a consortium of financial institutions. It was unable to name what companies were involved in the deal.