Juwi Wind secures financing for Minnesota wind farm project

By: Steve Monday November 26, 2012 0 comments Tags: Boulder, juwi Wind, Michael Rucker, Xcel Energy

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BOULDER - Juwi Wind has secured financing for the Community Wind South Project, a 30-MW wind farm in southwestern Minnesota now under construction, the company announced.

The project is expected to be finished by the end of 2012. Juwi Wind did not release details of the financing agreement.

Deutsche Zentral-Genossenschaftbank - or DZ Bank AG - is the financing partner in the deal. The bank is the fourth-largest bank in Germany with a branch in New York.

The bank will provide money for construction, an ITC cash grant bridge and term loans, juwi Wind said.

"Juwi's long-standing relationship with DZ Bank in Germany since the late 1990s aided in the completion and terms of this deal for one of our USA projects," said Michael Rucker, juwiWind USA CEO.

Power produced by the project will be sold to Xcel Energy under a long-term purchase agreement. The project features 15 Repower MM92 turbines with 100-meter towers - the tallest in Minnesota.

Juwi Wind LLC is a subsidiary of juwi Group, an international developer of renewable energy projects. Juwi has installed about 650 turbines at 85 sites worldwide.

For more information, visit www.juwinorthamerica.com.

 

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