E.ON has announced the successful completion and tax equity financing of its 201 MW Stella wind farm in Kenedy County, Texas.
Allianz Capital Partners of America, on behalf of Allianz insurance companies, provided tax equity financing in exchange for a partial interest in the coastal Texas project, which is E.ON’s 23rd North American wind farm. The facility achieved commercial operations and closing of tax equity in December.
The project, powered by 67 Acciona AW-125 3.0 MW turbines, will produce enough electricity to power more than 60,000 homes. Construction began one year ago.
Approximately 300 construction jobs were created to bring the project online, and local contractors spent more than $12 million on local products and services. The wind farm is also projected to generate more than $25 million in revenue for Kenedy County. This additional revenue will support essential county services and local schools.
Photo: David Benbennick [Public domain], from Wikimedia Commons