enXco Closes Financing On Wapsipinicon Wind Project

NAW Staff, Thursday 12 March 2009 - 10:54:06

Escondido, Calif.-based enXco, an EDF Energies Nouvelles company, has closed on equity funding for the Wapsipinicon Wind Energy Project with Union Bank.

Construction of the 100.5 MW wind farm, consisting of 67 1.5 MW GE wind turbines, commenced last April, and commissioning was achieved in December 2008.

"Union Bank has been extremely constructive to work with during this difficult economic crisis," says Tristan Grimbert, president and CEO of enXco. "This financing demonstrates their commitment to renewable energy and proves again that funding is available for solid projects."

Southern Minnesota Municipal Power Agency will purchase the power generated under a 20-year power purchase agreement. The Wapsipinicon Wind Project, located in Mower County, Minn., will be operated and maintained by enXco Service Corp.

SOURCE: enXco



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