Albina Equity Fund I LLC, a wholly owned subsidiary of Albina Community Bancorp, says it has deployed $8.4 million of New Markets Tax Credit allocation to an Oregon wind energy project.
The 3 MW community wind energy project – Lime Wind Holdings LCC – is located in Lime, Ore., and consists of six Nordtank 500 kW refurbished turbines and related equipment. The project is the first wind project built on federal land in Oregon and the first utilizing rebuilt turbines to receive Oregon State Energy Loan Program funding.
Albina partnered with Wells Fargo and Reoder & Co. to structure a transaction that utilized the credits as part of the permanent financing of the wind farm.
