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Minnesota wind farm secures long-term financing

The developers of the 20 MW Grant County Wind Farm in Minnesota, USA, have closed long-term financing for the wind farm.

By Kari Williamson

The wind farm is already at full capacity and consists of 10 Suzlon S88 2.1 MW wind turbines.

“This marks a major milestone in that Grant County is the first wind farm in the US developed exclusively with Suzlon turbines to secure long-term financing. It underscores the continued confidence customers have in getting a good return on their investment in our flagship S88 machine,” says Andris Cukurs, CEO of Turbine Supplier Suzlon Wind Energy Corp.

New Jersey-based Olympus Power’ financing agreement, arranged with Prudential Capital Group, includes a purchase of US$20 million in senior secured notes for a term of 18.8 years and fixed interest.

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