Through subsidiary Building Energy Wind Iowa LLC, Italy-headquartered Building Energy SpA has inaugurated its first wind farm in Iowa, a 30 MW project now operating in Story, Boone, Hardin and Poweshiek counties.
The facility, situated north of Des Moines, will generate approximately 110 GWh of energy per year, says Building Energy, which developed and financed the distributed energy project. Building Energy is also the owner and operator of the facility, which comprises 10 3 MW turbines, each with a 125-meter-diameter rotor on an 87.5-meter steel tower.
The overall investment in the construction of the facility amounted to $58 million. Capital One Bank is committed to a tax equity contribution of approximately $33 million.
The project will sell its energy and related renewable energy credits under a bundled, long-term power purchase agreement with a local utility. The energy generated will satisfy the energy needs of 11,000 U.S. households every year, says Building Energy.
“Taking advantage of the strong wind resources in the state of Iowa, the project has been bringing benefits to the local economy with new job positions since the project’s developmental stage and will continue to do so throughout the life of the plants,” comments Andrea Braccialarghe, managing director for North America at Building Energy. “The wind farm will span six different towns – Huxley, Kelley, East Ames, East Nevada, Grinnell and Alden – in order to provide renewable energy to as many local communities as possible, respecting the environment without impacting residential areas or conflicting with agricultural or livestock activities, while at the same time keeping electricity rates stable and affordable.”