SAN DIEGO--(BUSINESS WIRE)--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.
“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.”
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.
About EDF Renewable Energy:
EDF Renewable Energy - formerly enXco - is a leading U.S. independent power producer with more than 25 years of expertise in the renewable industry, covering all range of services from project development and management to operations and maintenance. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: biogas, biomass, hydro, marine energy and storage solutions. The company develops, constructs, operates and manages renewable energy projects throughout the United States for its own accord as well as for third parties. EDF Renewable Energy’s portfolio consists of over 3.5 gigawatts of developed projects with 1.8 gigawatts of installed capacity. EDF Renewable Energy is the U.S. subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the renewable energy arm of the EDF group, the leading electricity company in the world. For more information visit: www.edf-re.com
About EDF Renewable Services:
EDF Renewable Services – formerly enXco Service Corporation – is the leading third-party provider of operations and maintenance services in North America. With 25 years of experience, EDF Renewable Services understands renewable energy facilities represent a substantial investment. The company takes an owner-operator approach to ensure maximum returns on the asset, full project value, and ongoing profitability for new and existing facilities. As part of a global organization with utility-scale wind and solar plants, the company brings depth of experience to every project. With more than 6 gigawatts of wind and solar under contract, EDF Renewable Services is the trusted leader in O&M. For more information visit: www.edf-renewable-services.com