The world’s largest renewable energy company and regular deal-maker
SunEdison has announced that it has closed financing and begun
construction on a 185 MW wind energy project set to be developed in
Maine, US. The
Bingham Wind Project is set to be located in Somerset County, and upon
completion is expected to be the largest of its kind in the New England
area.
Electricity generated by the Bingham plant is expected to be
enough to power 65,000 homes in the area, and will be sold to three New
England utilities — Eversource, National Grid, and Unitil — through
15-year power purchase agreements. “The Bingham wind farm is our largest wind project in Maine, and once
completed should bring our total wind-generation capacity in the state
to 552 megawatts,” said Paul Gaynor, SunEdison executive vice president
of the Americas and EMEA. “SunEdison has made a major commitment in
Maine’s renewable energy future, and that commitment creates new local
jobs and incremental tax revenues for the state, as well as long term
stable and competitive electricity prices for rate payers. Bingham is a
fantastic example of how good policies can create great economic and
environmental results.”
Financing for the wind project and generator lead is set at $360 million, with total construction cost sitting at $420 million. “We are very pleased to have played a leading role in SunEdison’s
financing of the Bingham project,” said Andrew Redinger, managing
director and head of KeyBanc Capital Markets’ Utilities, Power &
Renewable Energy Group. “The Bingham project promises to be an excellent
source of renewable power for New England, and we’re glad it has
started construction.” The news came a day before it was announced that SunEdison would sign
a Memorandum of Understanding with Gamesa to develop up to 1 GW of wind
power plants, in a 50/50 joint venture.
http://cleantechnica.com/2015/07/02/sunedison-closes-deal-begins-construction-185-mw-wind-project-maine/