enXco Closes Financing On Wapsipinicon Wind Project

NAW Staff
by NAW Staff
on June 01, 2009 No Comments
Categories : Projects & Contracts

Escondido, Calif.-based enXco, an EDF Energies Nouvelles company, has closed on the project financing for the Wapsipinicon Wind Energy Project. Lenders to the project are Nord/LB, CIC Credit Industriel et Commercial, Landesbank Hessen-Thuringen (Helaba) and CoBank. Nord/LB is administrative agent for the banks, which each have equal shares in term loan and letter of credit facilities.

‘We are very proud to have another renewable energy project financed with Nord/LB, which also served as administrative agent for our Shiloh II project earlier this year,’ says Jim Peters, vice president of project finance for enXco. ‘Each of the lenders involved with the Wapsipinicon project have worked with enXco previously, and we continue to benefit from the strong relationships.’

Construction of the 100.5 MW wind farm, which consists of 67 1.5 MW GE wind turbines, commenced in April 2008, with commissioning achieved in December 2008. Southern Minnesota Municipal Power Agency is purchasing power 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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enXco Closes Financing On Wapsipinicon Wind Project

NAW Staff
by NAW Staff
on March 12, 2009 No Comments
Categories : Projects & Contracts

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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