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Wind farm builder secures financing
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A Chicago company said it has successfully closed on construction and term debt financing for a controversial wind farm covering parts of Dodge and Fond du Lac counties.
Invenergy Wind L.L.C. said in a statement Monday that it has begun construction of 66 wind turbines with the capability of producing up to 99 megawatts of electricity. The project is expected to be completed in early 2008. Power will be sold under long-term contracts with Wisconsin Public Service Corp., of Green Bay; Wisconsin Power and Light Co. and Madison Gas and Electric Co., both of Madison; and Wisconsin Public Power of Sun Prairie.
Invenergy plans include building as many as 133 wind turbines producing 200 megawatts of electricity on more than 32,000 acres near the Horicon Marsh at a total cost of about $250 million. The Public Service Commission approved construction of the wind farm in July 2005.
The project approval process was challenged in court by a group seeking to protect the Horicon Marsh, but a circuit court held that the PSC properly issued the approvals.
White Construction Inc., of Clinton, Ind., will build foundations and erect the turbines and Michels Corp., of Brownsville, will manage the construction of the project. The wind farm will be operated by Invenergy.
The Business Journal of Milwaukee
22 October 2007
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