EDF Renewable Energy says its 175 MW Pilot Hill wind farm, located in Kankakee and Iroquois counties in Illinois, has closed structured equity financing from GE Energy Financial Services and MetLife Inc.
The wind project achieved commercial operation in September and will power 100% of the energy needs of Microsoft Corp.'s Chicago data center under a 20-year power purchase agreement.
"Pilot Hill serves as another example of EDF Renewable Energy's strategy to develop renewable energy projects with first-tier equipment suppliers and contractors, and then invite the investment from longstanding financial partners," comments Jim Peters, vice president of project finance for EDF Renewable Energy.
"Investing in Pilot Hill contributes to the growth of EDF Renewable Energy, an important worldwide GE customer, builds on strong commercial interest in the renewable energy sector, and helps Microsoft meet its environmental goals," says Kevin Walsh, managing director and head of renewable energy at GE Energy Financial Services.
Pilot Hill comprises 91 GE 1.7-100 and 12 GE 1.85-87 wind turbines. GE Energy Financial Services holds a portfolio of approximately 14 GW of wind power projects in operation or under construction and plans to continue to invest over $1 billion annually in renewable energy projects worldwide, including in projects that utilize GE's wind turbine technology.
‘MetLife is proud to support efforts that drive sustainability, and we're pleased to be working with EDF and GE on the Pilot Hill Wind project,’ says Steven J. Goulart, executive vice president and chief investment officer for MetLife Inc. ‘The Pilot Hill project aligns with MetLife's approach to investing for the long term and builds upon the $3.5 billion we've invested in renewable energy projects.’
