The US division of E.ON Climate & Renewables (EC&R) has secured $122.2m institutional equity financing from JP Morgan and Wells Fargo in exchange for a partial interest in the recently completed Settlers Trail wind farm.
The 150MW facility is located in Illinois and consists of 94 General Electric turbines.
Verena Volpert, senior vice president of finance for E.ON, said, 'EC&R constantly looks to determine the most beneficial economic structures best suited for its projects. For this project, teaming with JP Morgan and Wells Fargo made the most sense.'
Steve Trenholm, CEO of EC&R North America, added, 'Wind farms generate clean, affordable, homegrown electricity, creating jobs, providing an economic shot in the arm to farmers, ranchers, and rural communities across America. JP Morgan and Wells Fargo were natural partners due to their leadership and experience in the tax equity market.'