Suzlon S88-powered wind farm in Minnesota secures financing

Chicago, September 21, 2011 — Suzlon Wind Energy Corp., the North American unit of Suzlon Energy announced that owners of the Grant County Wind Farm, powered by 10 Suzlon S88-2.1 MW wind turbines, have closed on long-term financing.

The 20 MW site in Grant County, Minn., at full capacity, generates enough electricity to power 7,000 homes.

Energy generation at the Grant County Wind Farm began in March 2010. Performance has been excellent, with total wind farm availability numbers exceeding 98 percent. New Jersey-based Olympus Power initially entered into the wind farm's purchase from Suzlon and Juhl Wind in March 2011 and, with this announcement, completed long-term financing.

Olympus' financing agreement, arranged with Prudential Capital Group, includes a purchase of $20 million in senior secured notes for a term of 18.8 years and fixed interest.

Suzlon Wind Energy Corp. focuses on the North American market and is a unit of Suzlon Energy Limited, India. The headquarters for North America is based in Chicago, Illinois. Sales and service offices are located throughout the U.S.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs