Irish renewables firm signs $240 wind farm deal
Dublin based NTR has announced it has secured $240m in financing for a 150megawatt wind farm.
The firm will build the farm through its Wind Capital Group and will provide power Associated Electric Cooperative under a 20 year deal.
Only 20 wind project finance deals have been completed in the US so far this year.
NTR's chief executive, Jim Barry, said: "This is an example of what can happen, even in the toughest of economic climates, when you have the right quality of project pipeline in place.
"Wind Capital Group's Lost Creek project combines the key features of any wind development project from high quality wind resources to premier league power customers and equipment suppliers.
"Its successful completion highlights that financial markets are open to well-structured renewable projects."
Lost Creek is the first project that Wind Capital Group will own and operate, post development.
Construction commenced in July 2009 and planned to be completed in late spring 2010.
The 150MW wind farm will generate enough electricity to power more than 50,000 homes.
© Faversham House Ltd 2009. edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.