Juhl Wind Inc. has secured construction and term debt financing for its Valley View wind farm, located near the company's headquarters in southwestern Minnesota. The project is a 10 MW facility that is estimated to cost approximately $21.7 million.
Juhl Wind has been serving as the developer and construction manager on the project, which will utilize five Gamesa G87 wind turbines. The company was successful in arranging construction financing along with the term loan on behalf of Valley View LLC. The project is expected to be completed this spring.
Energy from the project will be sold to Xcel Energy under a 20-year power purchase agreement.
While Juhl has successfully arranged the construction and term-loan framework for the project, the company is in the process of raising the remaining $5.1 million of equity required.
SOURCE: Juhl Wind Inc.