juwi Wind secures financing for 30 MW Minnesota wind farm

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juwi Wind has secured financing for the Community Wind South project, a 30 MW wind farm in southwestern Minnesota currently being constructed. The project is slated for completion by the end of 2012.

The project features 15 REpower MM92 wind turbines with 100-meter towers, which are among the tallest in Minnesota to date. The power will be sold to Xcel Energy under a long-term purchase agreement.

Deutsche Zentral-Genossenschaftbank, or DZ Bank AG, the fourth biggest bank in Germany with a large branch in New York, has been the mandated lead arranger and provided the construction, ITC cash grant bridge and term loans. KfW IPEX also joined the transaction as a lender.

Jeff Chester from Kaye Scholer and his team represented juwi Wind, and Rob Goldberg from Mayer Brown and his team represented DZ Bank AG.

juwi Wind is a unit of the juwi Group, a major international developer of renewable energy projects. juwi has been designing, building and operating plants that harness renewable energy since 1996, and to date juwi has installed about 650 wind turbines worldwide at 85 sites, producing a total output of about 1,250 MW. The company is named for CEOs Fred Jung and Matthias Willenbacher and based in Worrstadt, Germany with U.S. headquarters in Boulder, Colorado.

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POWERGRID International

March 2014
Volume 19, Issue 3
1403PG-cover

ELECTRIC LIGHT & POWER

January 2014
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