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Fri12192014

Back You are here: Home Business US EDF Renewable Energy completes financing for wind and solar projects in the U.S.

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EDF Renewable Energy completes financing for wind and solar projects in the U.S.

American renewable energy power provider EDF Renewable Energy is starting the year right, with the announcement of closed financing deals on proposed wind and solar power generation projects.

The power provider said it completed tax equity financing with the Bank of America Merril Lynch for its 100.8-megawatt Spearville 3 Wind project located in Ford County, northeast of Dodge City, Kansas as of December 21.

Spearville 3 began delivering electricity to the grid on October 2012, under a 20-year power purchase agreement with Kansas-based energy provider KCP&L. The project can generate enough renewable energy for around 40,000 average homes.

EDF Renewable Energy developed and built Spearville 3, and is also now providing operation and maintenance services.

Meanwhile, in California’s Mohave Desert, the company’s 143 MWp Catalina Solar project has completed financing.

Majority interest in the project was acquired by a group of investors from GE Energy Financial Services, Metropolitan Life Insurance Comapany, Union Bank, N.A., and Citi.

Using thin film photovoltaic panels, the Catalina Solar project will generate enough renewable energy to power around 35,000 homes annually, which will be provided to the San Diego Gas & Electric Company.

The project, which is currently under construction since last May, seeks to reach full capacity in the second quarter of this year.

EDF Renewable Energy is one of the largest renewable energy developers in California, with the Catalina Solar project representing their 22nd renewable energy project in the state. These projects generate a combined 730-MW of clean energy for the state.

The company has a renewable energy project portfolio of over 3.5 gigawatts of developed projects and 1.8 GW of installed capacity. Formerly known as enXco, EDF Renewable Energy has been in existence for more than 25 years. It is the U.S. subsidiary of EDF Energies Nouvelles which is the renewable energy arm of global electricity company EDF group. – EcoSeed Staff



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