United States

United States

Big investment at Storm Lake

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Edison Capital has closed a $92.5 million investment in the new 112.5 MW Enron Wind Corp project in Iowa on Buffalo Ridge, the largest wind farm in the US. Power from Storm Lake I will be sold to MidAmerican Energy Co under a 20 year fixed price contract. The investment and financial services company, based near Los Angeles, is part of the same corporate group as utility Southern California Edison, which buys power from wind farms in Tehachapi Pass and San Gorgonio Pass in California. "Participation in this significant transaction will further our presence in the wind energy market," says Edison Capital's Tom McDaniel. Edison Capital has previously invested in wind projects on Buffalo Ridge in Minnesota, while one of its spin-offs, Edison Source, offers two green electricity products, one that is half renewables and a second that is 100% renewables.

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