First Wind Obtains Tax Equity Financing For Wind Project

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Boston-based First Wind, an independent wind power developer, has announced that Lehman Brothers Holdings Inc. has funded a tax equity investment in the 20 MW Steel Winds wind power project in Lackawanna, N.Y.

This project was built with the first eight 2.5 MW Clipper Liberty turbines produced at Clipper's Cedar Rapids, Iowa, facility.

‘We're pleased to close and fund this tax-equity financing of Clipper turbines with one of the world's top investment banks,’ says Tim Rosenzweig, First Wind's senior vice president of finance. ‘The Lehman Brothers financing follows the successful turbine supply and construction loans for Clipper equipment we closed with HSH Nordbank and Nord LB last year.’

SOURCE: First Wind

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