Wind Capital Group Closes $240 Million in Financing on Missouri Wind Project

October 27, 2009 – Vol.14 No.32

Wind Capital Group Closes $240 Million in Financing on Missouri Wind Project.

The wind energy developer has announced that it has closed on financing for the Lost Creek Wind Project in DeKalb County, Missouri. A group of international leaders in project finance lending is providing debt facilities to support the construction and operation of the project. The 150 megawatt (MW) Lost Creek Wind Project is believed to be the largest investment by the private sector in the state of Missouri this year.

“This is an example of what can happen, even in the toughest of economic climates, when you have an excellent team of people working with common purpose toward helping the U.S. achieve energy independence,” said Wind Capital Group President Tom Carnahan. “We view this not just as a project closing, but as a validation of the business model we have created.”

Construction on Lost Creek -- the first project Wind Capital Group will own as well as operate -- began in July of this year and is projected to be completed in late Spring of 2010.

The 150 MW Lost Creek Wind Project will provide 2,500 jobs through the supply chain and enough electricity to power more than 50,000 homes. Power generated at Lost Creek will feed into NW Electric Cooperative transmission lines. NW Electric is a member of Associated Electric Cooperative Inc., which is buying the power under a 20-year power purchase agreement. The project will use 100 GE 1.5 MW wind turbines and 100 ABB transformers, which will be built by UAW workers in Jefferson City, Missouri.

Wind Capital Group, of St. Louis, Missouri, is currently developing utility-scale wind farm projects in 16 states across the U.S. (10/26/09)

Links:

Wind Capital Group
http://www.windcapitalgroup.com

--- Wind Capital Group to Develop Missouri’s Largest Wind Farm.

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No