North American Windpower: E.ON Climate & Renewables Secures Wind Project Financing

E.ON Climate & Renewables Secures Wind Project Financing

in News Departments > Projects & Contracts

by NAW Staff on Monday 04 June 2012

E.ON Climate & Renewables (EC&R) North America says it has secured $150 million in institutional equity financing from Bank of America Merrill Lynch in exchange for a partial interest in its Pioneer Trail Wind Farm.

The project, located in Ford and Iroquois counties, Ill., is located four miles west of Paxton and consists of 94 GE 1.6 MW turbines, for a total of more than 150 MW of power. The wind turbines, blades and towers will all be made in North America, E.ON notes.

The project is expected to generate more than $29 million in local taxes, pay $8 million in local salaries and earn landowners more than $50 million, according to E.ON.

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