Duke Energy secures $231M for Wyo. wind project
Duke Energy Corp. has secured $231 million in financing for its Top of the World Windpower Project near Casper, Wyo.
The funds include an 18-year term loan of $193 million, and nearly $38 million in letters of credit.
The 110 wind turbines of the Top of the World project can produce enough electricity to power 60,000 homes. The site began commercial operation in October.
Duke sells all the energy generated at the facility to Oregon-based utility PacifiCorp under a 20-year power-purchase agreement.
“We’ve spent more than $1.5 billion to grow our commercial wind power business over the last three years, and financing the Top of the World Windpower Project will help fuel additional investments in renewable energy,” says Keith Trent, group executive and president of Duke Energy’s commercial businesses.
The financing was arranged by Bank of Tokyo-Mitsubishi UFJ, along with BBVA, Societe Generale and Caja Madrid.
In total, Duke has committed more than $1 billion since 2007 to build its wind-power business.
Read more in The Business Journal.
Duke Energy Corp. has secured $231 million in financing for its Top of the World Windpower Project near Casper, Wyo.
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