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Buffalo ridge financing and construction milestones

Two projects that could help Northern States Power on the way to fulfilling its 425 MW wind mandate -- at prices ranging from $0.03-0.04/kWh -- have passed financing and construction milestones. Northern Alternative Energy Inc, owner and manager of two proposed projects with a combined capacity of 23 MW on Buffalo Ridge, near Hendricks in Minnesota, has completed a $32 million financing package. Construction was expected to begin in mid-September, according to Michelle Rogers, project manager for Northern Alternative Energy. "The cost of that energy, levelised over 30 years, will be between three cents and four cents," confirms Steve Wilson, account manager for NSP.

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