EDF Renewable Energy closes financing on Spearville 3 Wind Project

Friday, Jan 04, 2013

EDF Renewable Energy, formerly enXco, announced today that it completed tax equity financing with Bank of America Merrill Lynch on December 21 for the 100.8 megawatt Spearville 3 Wind Project.

“Our long standing institutional partnership with EDF is of great strategic importance to our Renewable Energy Finance business. We are very pleased to expand our relationship with the success of this latest collaboration.”

EDF Renewable Energy developed and built the Spearville 3 Wind Project, located in Ford County, northeast of Dodge City, Kansas. It consists of 63 General Electric (GE) XLE turbines and generates enough electricity to supply approximately 40,000 average homes with renewable energy.

“We appreciate the collaboration with BofA Merrill on this first tax equity deal between our companies,” said Jim Peters, Vice President of Project Finance for EDF Renewable Energy. “The financing deal demonstrates our continued success in the tax-equity market and underscores wind power’s ability to provide clean, abundant and affordable power, while creating economic benefits.”

Todd Karas, President of Banc of America Public Capital Corp, added, “Our long standing institutional partnership with EDF is of great strategic importance to our Renewable Energy Finance business. We are very pleased to expand our relationship with the success of this latest collaboration.”

Spearville 3 began delivering carbon-free electricity into the KCP&L generation portfolio under a 20-year power purchase agreement in October 2012. EDF Renewable Services, formerly enXco Service Corporation, will provide operations and maintenance service.

Source: Business Wire