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Fenton wind-power project gets financing 

A California energy company said Thursday it has closed on the financing needed to complete the $385 million Fenton Wind Energy Project.

The wind farm and power plant are currently under construction in Minnesota’s Murray and Nobles Counties.

North Palm Springs, Calif.-based enXco Inc. did not disclose how much it raised in the most recent financing round.

The wind farm will be Minnesota’s largest, the company said in a statement. Construction began in September, and is the plant is expected to up and running during the second half of the year.

The company will sell power generated by the Fenton project to Northern States Power, a subsidiary of Minneapolis-based Xcel Energy Inc. (NYSE: XEL).

The project’s largest investor, with a 50 percent stake, is GE Financial Services, a division of Fairfield, Conn.-based General Electric Co. (NYSE: GE).

Union Bank of California, a subsidiary of San Francisco-based UnionBanCal Corp. (NYSE: UB), is undewriting debt and equity financing.

by Katharine Grayson
Staff Writer
Minneapolis/St. Paul Business Journal

bizjournals.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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