US energy company Tenaska has closed $158m in commercial financing for the under construction 250MW Nobles 2 wind farm in southwest Minnesota.
Associated Bank, BNP Paribas, CoBank, Credit Agricole and Helaba are providing the debt financing for the project.
Construction near Wilmont in Nobles County started in August.
Vestas will supply 74 turbines for the project and provide maintenance services once operations kick off in 2020.
Mortenson is the engineering, procurement and construction contractor.
The project will create up to 230 jobs at peak construction and up to 15 full-time jobs when operational, in addition to providing opportunities for local businesses to provide goods and services for the project.
The wind farm is also anticipated to result in increased tax revenue of more than $1.1m annually to local government, as well as diversify land use and provide stable income to landowners through lease payments.
Nobles 2 wind farm will deliver electricity under a 20-year power purchase agreement to Minnesota Power, a division of Allete.
Allete is partnering with Tenaska on the project.
Tenaska senior vice president of finance Jay Frisbie said: “This is Tenaska’s second wind financing in 2019 that has been well received by the lending community.
“This project is well positioned to meet the needs of our customer when it comes online in 2020 and for many, many years into the future.”