in News Departments > Projects & Contracts
print the content item

Minneapolis-based Wind Energy America Inc. (WNEA) has started ordering parts and commenced construction and interconnect operations to complete its wind farm project in Minnesota, which utilizes two of the Gamesa wind turbines acquired in the company's Boreal Energy asset purchase.

When commissioning of these two turbines is completed, WNEA will receive its first material revenues from generating utility-scale electricity from wind power. The Buffalo Ridge wind farm and its revenue production will be owned by WNEA.

"Given the current difficulties of raising development capital due to the recent collapse of worldwide equity markets, we are pleased that WNEA has been able to obtain critical funding at this time," says Robert Knutson, managing director of WNEA.

Financing for this wind farm project was obtained from a California holding company through a sale/leaseback of WNEA's Midwest Energy Center facility in Lincoln County, Minn. WNEA received net proceeds of approximately $l.4 million from this transaction. It also has the option, after two years, to repurchase the facility at a price, which represents a small percentage increase over the initial sale/leaseback price.

SOURCE: Wind Energy America Inc.


Trachte Inc._id1770
Latest Top Stories

Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.


Why States Should Adopt A Renewable Portfolio Standard

A new study analyzes the potential benefits of state renewable energy mandates, as well as recommends what such policies should include.


Sen. Reid Vows To Bring Wind PTC To A Vote By Year's End

Nevada's senior senator provides some encouragement to wind industry advocates during his annual Clean Energy Summit.


Steadily, Wind Turbine OEMs Resume R&D Investment

An increased commitment to research and development will likely lead to wind energy innovation - not to mention a likely increase in patent-protected technology.

Renewable NRG_id1934
Canwea_id1984
UnitedEquip_id1995
Future Energy_id2008