Pennsylvania, March 25, 2011 — Wind farm developer Gamesa has agreed to supply and commission turbines totaling 10 MW of installed capacity for a wind farm in Minnesota.
Gamesa will deliver five Gamesa G87-2.0 MW turbines with the low temperature package to the Valley View wind farm outside Chandler, Minnesota. The site is scheduled to begin operating in the 2Q, and the energy it generates will supply Northern States Power, a unit of U.S. energy company Xcel.
The wind farm’s construction is being financed through a combination of project equity, long-term bank financing and US government funds under Section 1603. This program, introduced as part of the American Reinvestment and Recovery Act in February 2009, offers cash grants to finance projects in lieu of tax credits on 30 percent of the investment or a production tax credit.
In addition, Gamesa worked with Juhl Wind on securing creative financial solutions to help move the project forward. The project loans have been provided by Banco Sabadell and Caixa Nova.