Leeward Renewable Energy has closed approximately tax equity commitments and debt facilities for its GSG Wind project.
The repowered GSG Wind is expected to be operational next month. Leeward recently decommissioned the 40 turbines that comprised the company’s legacy 80 MW wind facility and commenced construction on 26 new turbines with enhanced capacity.
The project is situated on 3,000 acres near West Brooklyn, Illinois, and first reached commercial operation in 2007. It featured Gamesa G87 2.0 MW wind turbines and interconnects to ComEd’s transmission system in PJM territory.
“This key milestone reflects the continued confidence from leading financial institutions and knowledgeable investors in LRE’s growth plans and our ability to execute,” says Chris Loehr, senior vice president of finance at Leeward. “We have completed a record amount of financing for LRE projects this year and we are looking forward to carrying this momentum into 2024.”
The tax equity commitment was made by Wells Fargo Bank, and the debt facility was provided by Mizuho Bank Ltd., National Bank of Canada, Société Générale and Sumitomo Mitsui Trust Bank Ltd.
As previously announced, LRE will recycle or reuse 100% of the wind turbine blades from the decommissioned turbines at GSG Wind.