Arkansas has added its first utility-scale wind farm to the grid after Cordelio Power confirmed that its 135-megawatt Crossover Wind project in Cross County has begun commercial operations.
Located in eastern Arkansas, the facility supplies all of its output to Microsoft under a 20-year power purchase agreement. The project is expected to deliver new long-term revenue to the region, including about $1 million per year in county payments and more than $50 million in total landowner payments over its lifetime.
The launch comes as large corporate buyers seek more renewable energy and as developers expand clean power projects across the Mid-South, a region that has historically relied heavily on fossil generation.
The Crossover project uses V163-4.5 MW turbines manufactured by Vestas and was built under an EPC contract with M.A. Mortenson. Vestas will provide operations and maintenance services under a long-term agreement.
Debt and Tax Equity Deals Total $811M for Crossover Wind
Cordelio closed financing for the facility with a lender group including SMBC, Crédit Agricole Corporate and Investment Bank, National Bank of Canada, Royal Bank of Canada, and BMO. The package included a $375 million construction loan and a $173 million term loan. U.S. Bank supported the project with a $263 million tax equity investment.
Cordelio acquired Crossover in 2023 from Steelhead Americas, Vestas’ North American development arm, which began developing the site in 2020. Latham & Watkins advised Cordelio on legal matters related to the transaction.
Recently, wind projects have been on the rise in the U.S., including the Monte Cristo I Windpower Project in Hidalgo County, Texas, which has begun generating electricity with a 238.5 MW capacity, enough to power about 81,000 homes annually.
Project Factsheet: Crossover Wind (Arkansas)
Location: Cross County, Arkansas
Capacity: 135 MW
Technology: Vestas V163-4.5 MW turbines
Offtaker: Microsoft (20-year PPA)
Developer: Cordelio Power
EPC Contractor: M.A. Mortenson
Operations & Maintenance: Vestas
Construction Loan: $375M
Term Loan: $173M
Tax Equity: $263M (U.S. Bank)
Local Payments: $1M/year to Cross County; $50M+ lifetime landowner payments
Project Origin: Began development in 2020 under Steelhead Americas; acquired by Cordelio in 2023
