EDPR secures tax equity for 399 MW of US wind

EDP Renovaveis SA (ELI:EDPR), or EDP Renewables, announced last week it has secured USD 400 million (EUR 351.4m) in tax equity financing from Citigroup Global Markets and other unnamed financial institution for 399 MW of wind projects in the US.

Through its subsidiary EDP Renewables North America LLC, the company secured funds in exchange for a stake in the 200-MW Meadow Lake VI and the 199-MW Prairie Queen wind farms, located in the states of Indiana and Kansas, respectively.

The parks have in place long-term power purchase agreements (PPAs). The USD 193.5 million in financing for the Meadow Lake project has been secured, while financing for Prairie Queen will be closed near its operation start, expected in the first half of 2019, EDPR noted.

(USD 1 = EUR 0.88)

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