EDPR closes tax equity financing for 199-MW Iowa wind park

EDPR wind park in the US. Source: EDPR. License: All rights reserved.

January 2 (Renewables Now) - EDP Renovaveis SA (ELI:EDPR), or EDP Renewables, announced last week it has completed the USD-196-million (EUR 171.3m) tax equity financing for the 199-MW Turtle Creek wind project in the US state of Iowa.

The financing was secured by EDP Renewables North America LLC. According to a previous statement, the closure was planned to occur near the start of operations of the wind park.

The Turtle Creek plant is comprised of 40 Vestas V136 3.6 MW turbines and 16 units of the V136 3.45 MW machines.

Due to the conclusion of this institutional equity financing, EDPR now has completed the funding needs of its 2018 US projects, all with long-term agreements, it said. In total, the company secured USD 464 million globally, which allows an efficient use of the tax benefits to be generated by these projects, EDPR noted.

(USD 1 = EUR 0.87)

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