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W. Va.'s Mount Storm wind farm gets financing  

The Mount Storm wind farm has a new $185 million construction and operating loan.

European banking and insurance giant Fortis and Spanish banking group Banco Bilbao Vizcaya Argentaria said Friday they will be the lead lenders for a 15-year loan for the NedPower Mount Storm project.

NedPower will be jointly owned by Richmond, Va.-based Dominion Resources and Shell WindEnergy Inc.

The project’s first phase – 82 turbines capable of generating 164 megawatts of electricity – is scheduled to start commercial operations next January.

Dominion and Shell have said they plan 50 more turbines despite a legal challenge. In June, the state Supreme Court reinstated a lawsuit brought by homeowners living near the northeastern West Virginia project.

Associated Press

WRIC

30 November 2007

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

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