North American Windpower: E.ON Climate & Renewables Nets Financing For Large Texas Wind Farm

E.ON Climate & Renewables Nets Financing For Large Texas Wind Farm

in News Departments > Projects & Contracts

by NAW Staff on Wednesday 31 October 2012

E.ON Climate & Renewables (EC&R) North America has secured $223.6 million in financing for the 203 MW Magic Valley Wind Farm, located in Willacy County, Texas.

The financing includes institutional equity financing of approximately $167.7 million and a commitment to fund expected capital contributions of approximately $55.9 million from a group of investors that includes JPM Capital Corp. and Wells Fargo Wind Holdings LLC in exchange for a partial interest in EC&R's recently completed Magic Valley Wind Farm. J.P. Morgan acted as lead investor in the financing.

The wind farm, which started operations in September, consists of 112 Vestas 1.8 MW wind turbines.

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