enXco closes funding round for Wapsipinicon wind energy project in Minnesota, US

1 June 2009

enXco, an EDF Energies Nouvelles company, has closed a project financing round for the Wapsipinicon wind energy project. Financial details were not disclosed.

Lenders to the project are Nord/LB, CIC Credit Industriel et Commercial, Landesbank Hessen-Thuringen and CoBank.

Construction on the 100.5MW wind farm, consisting of 67 turbines, began in April 2008, with commissioning achieved in December of the same year. enXco signed a 20-year power purchase agreement with Southern Minnesota Municipal Power Agency but will operate and maintain the wind farm itself.

‘We’re very pleased with the work of the enXco team and the invaluable efforts of our long term partners,’ said Jim Peters, vice president of project finance for enXco. ‘We are very proud to have another renewable energy project financed with Nord/LB. Each of the lenders involved with the Wapsipinicon project have worked with enXco previously, and we continue to benefit from the strong relationships. The financing is further demonstration of their commitment to renewable energy and once again illustrates that funding is available for quality projects.’

Andrew Vernon, director at NORD/LB, added, ‘NORD/LB is once again pleased to have worked alongside enXco and our three banking partners to arrange the financing for Wapsipinicon. Good quality projects, such as Wapsipinicon, are continuing to attract long term project financing.’

enXco develops, constructs, operates and manages renewable energy projects throughout the US, namely wind developments.

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This story was published on Monday, June 1st, 2009 at 11:00 am and is filed under North America, deals, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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