Escondido, Calif.-based enXco has executed a term-financing agreement with Dexia, Landesbank Hessen-Thuringen (Helaba) and Union Bank for the Hoosier Wind Energy Project. Dexia is acting as administrative agent, Helaba is acting as documentation agent and Union Bank is acting as syndication agent.
Construction of the 106 MW wind farm, which consists of 53 REpower MM92 turbines, commenced last April. Commercial operation is expected during the fourth quarter of this year. Indianapolis Power & Light will purchase the power generated under a 20-year power purchase agreement. The Hoosier Wind Project, located in Benton County, Ind., will be operated and maintained by enXco Service Corp.