Japan's Itochu supports 43 MW of US wind parks

Japanese trader Itochu Corp (TYO:8001) and its fully-owned unit Tyr Energy Inc have agreed to provide tax equity financing for a couple of wind parks in the US with a combined capacity of 43 MW.

This was unveiled by investment banking services provider Karbone Capital Markets, which closed the tax equity transaction on behalf of its customer, Aspenall Energies (Delaware) LLC, as an advisor. The latter develops, owns and operates distributed-scale wind projects throughout the Midwest and is part of boutique distributed-infrastructure firm Treehouse Investments LLC.

The particular transaction supports the 30-MW Kimball Wind and 13-MW South Fork farms, located in Kimball County, Nebraska and Jackson County, Minnesota, respectively. The larger facility has been operating since May 2018, selling electricity to the Municipal Energy Agency of Nebraska. South Fork, in turn, has a 20-year off-take contract with Muscatine Power & Water and has been generating power since November 2016.

The transaction represents Itochu and Tyr Energy's sixth wind power investment in the US so far, according to the announcement. In total, the Japanese group has 15 power production plants in the country.

Choose your newsletter by Renewables Now. Join for free!