ESCONDIDO, CA. (September 30, 2009): enXco – an EDF Renouvelables Company (PARIS: EEN) announced today that it has executed a term financing agreement with Joint Bookrunners/Lead Arrangers Dexia, Landesbank Hessen-Thüringen (Helaba), and Union Bank for the Hoosier Wind Energy Project. Dexia is acting as Administrative Agent, Helaba as Documentation Agent and Union Bank as Syndication Agent.
Construction of the 106-megawatt wind farm, consisting of 53 REpower MM92 turbines, commenced last April with commercial operation expected during 4th Quarter 2009. Indianapolis Power & Light (IPL) will purchase the power generated under a 20-year power purchase agreement. The Hoosier Wind Project, located in Benton County, Indiana will be operated and maintained by enXco Service Corporation.
“The Hoosier Wind project exemplifies the solid relationship between the enXco team and its long- term financing partners. Hoosier marks our third wind project to achieve financing in the past 10 months during extremely challenging times, affirming enXco’s ability to develop and build financeable projects,” said Tristan Grimbert, president and CEO of enXco. “We are very proud to have once again successfully worked with Dexia, Helaba, and Union Bank who demonstrate their commitment to renewable energy through our constructive working relationship.” Grimbert added.