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NADB, Duke Energy Renewables sign $220m loan agreement for Texas wind farms

21 Dec 2012

The North America Development Bank (NADB) and Duke Energy Renewables have signed two $110m loan agreements for the construction of separate wind farm projects in Texas.

Los Vientos I and Los Vientos II will be located in the Willacy and Cameron counties in Texas. Their combined installed capacity will be 402MW.

Duke Energy Renewables president Greg Wolf, said, ‘We are excited that Los Vientos brings positive environmental benefits as well as providing a boost to economic growth in south Texas.

‘During construction, the area has benefitted from job creation as well as increased business for local companies and service providers. And for years to come, the windpower project will continue to stimulate economic development through lease payments to landowners, dependable tax revenue and contributions to the local community.’

Los Vientos I will consist of 87 Siemens wind turbines, each with a nominal capacity of 2.3MW and total 200MW. Los Vientos II will total 202MW, with 84 Mitsubishi Heavy Industries wind turbines, each with an individual capacity of 2.4MW.

Gerónimo Gutiérrez, NADB managing director, added, ‘In keeping with its mandate to support the development of environmental infrastructure, the NADB is very pleased to be involved in the financing of these two wind projects developed by Duke Energy Renewables, which will provide a substantial source of renewable energy to the Texas-Mexico border region.

‘This brings the total renewable energy capacity being financed by NADB to 769MW. We will continue to work with developers along the US-Mexico border to grow renewable energy capacity in the region.’

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