The two companies are to co-develop the Stephens Bor-Lynn wind project south of Lubbock County, northwestern Texas. The project will use 233 GE 1.6MW turbines.
The aim to obtain project financing in the second half of the year.
Speaking about the deal, Mesa Power executive Mark Ward said: "Mesa Power is excited about this wind project opportunity in Texas, and about partnering with Wind Tex Energy. We believe it is an excellent addition to the wind projects we’ve been developing since 2007."
Pickens' plans to develop wind projects have not always been straightforward. In 2010, he halved an order for 667 GE 1.5MW turbines when plans for a $10 billion 4GW Texas Panhandle wind project fell through.
The Pampa wind farm was billed as the world’s largest when announced in 2008, but stalled due to falling natural gas prices, a bad economy and lack of adequate transmission.