The $250 million wind installation, approved as long ago as 2008, recently started construction. It will be completed by the end of summer 2011, according to a spokesperson for Virginia-based AES.
Meanwhile, Edison Mission Energy has closed $75 million in debt financing for upgrades for its $190 million High Lonesome Mesa wind project in New Mexico.
The financing consists of $50 million of bonds issued by the state Renewable Energy Transmission Authority, with proceeds loaned to High Lonesome Mesa, and $25.26 million issued directly by the project.
The balance of the costs for the 100 MW wind plant is being paid from a US Treasury cash ‘stimulus’ grant and an equity contribution.