US-based independent power company Leeward Renewable Energy has completed financing for its 170MW Mountain Breeze wind farm located in Colorado.
The power company explained that it secured $162.9m construction financing and tax equity commitment from multinational investment bank Citi.
Leeward Renewable Energy interim CEO Jason Allen said: “The financing of this wind farm marks an important milestone for Leeward.
“The continued investment from our financial partners allows us to provide our customers with a sustainable and clean energy alternative. Mountain Breeze is a great asset to our expanding renewable energy portfolio and will create significant benefits for our customers and Weld County.”
Construction works at the wind facility are presently underway and will be equipped with 62 GE 2.3 and 2.82 wind turbine generators.
The project is expected to be completed by the end of this year and, once completed, Leeward will own and operate it for a long-term period.
Mountain Breeze project has obtained approval from Weld County and received favourable backing from the project landowners and community members.
During the construction phase, the project is expected to create approximately 250 jobs.
Additionally, Leeward has signed a long-term power purchase agreement (PPA) with Xcel Energy Colorado to supply clean energy generated by the wind facility.
Currently, Leeward Renewable Energy has an operating portfolio of approximately 1.7GW of wind generation over 19 projects in nine states in the US.