EDF Renewable Energy said Jan. 3 that it completed on Dec. 21 tax equity financing with Bank of America Merrill Lynch for the 100.8-MW Spearville 3 Wind Project.
EDF Renewable Energy developed and built Spearville 3, located in Ford County, northeast of Dodge City, Kan. It consists of 63 General Electric XLE turbines.
“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 electricity into the Kansas City Power & Light generation portfolio under a 20-year power purchase agreement in October 2012. EDF Renewable Services, formerly enXco Service Corp., will provide operations and maintenance service.
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.