juwi Wind LLC has completed the construction of the Community Wind South Project, located in Nobles County, Minn.
Approximately $67 million has been invested in the community to build the 30 MW wind project, which has been under development since 2003 and features 15 REpower MM92 2 MW turbines. The output from the project is being sold to Xcel Energy Inc. under a 20-year power purchase agreement.
The project secured construction and term debt financing from DZ Bank, which acted as the mandated lead arranger, and KfW IPEX, which was the lender. A BlackRock-managed fund joined juwi as a sponsor by acquiring the majority of project equity at commercial operation. A major tax-equity player committed renewable energy tax equity in support of the project in late 2012.
juwi Wind will manage the day-to-day operations of the Community Wind South project.