E.ON Climate & Renewables (EC&R) North America announced today it has secured institutional equity financing of approximately $174.9 million and a commitment to fund further capital contributions from a group of investors that includes JPM Capital Corporation (J.P. Morgan) and Wells Fargo Wind Holdings LLC (Wells Fargo) in exchange for a partial interest in EC&R’s Wildcat I Wind Farm. J.P. Morgan acted as lead investor in the financing.
“We’re delighted to demonstrate continued success in the tax equity market and we’re pleased to show the attractiveness of our wind energy portfolio,” said Dr. Verena Volpert, Senior Vice President Finance, E.ON SE. “Working with an investor team that includes J.P. Morgan and Wells Fargo proves our ability to raise capital in a tax-efficient manner.”
The project, located in Tipton and Madison counties, is EC&R’s first wind energy project in Indiana and began commercial operation in December. One hundred twenty-five GE 1.6 megawatt turbines provide more than 200 megawatts (MW) of power