Developer Building Energy has secured a US$33m equity deal with Capital One Bank to finance the construction of an unnamed 30MW wind farm in the US state of Iowa.
The project will feature ten 3MW turbines on 87.5 metre steel towers which are expected to begin spinning by the end of the year.
The Milan-headquartered developer has a long-term PPA in place for the power from the wind farm which it is working on with local outfit Optimum Renewables.
Building Energy USA managing director Andrea Braccialarghe said: “We are extremely pleased with the closing of this agreement, which further demonstrates Building Energy commitment to Iowa and North America as a whole.”
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