100-MW enXco Wind Project Closes Financing

enXco has closed on equity funding for the Wapsipinicon Wind Energy Project with Union Bank N.A. Construction of the 100.5-megawatt (MW) wind farm, which uses 67 GE 1.5-MW turbines, started in April 2008 and commissioning was finished in December 2008.

Southern Minnesota Municipal Power Agency (SMMPA) will purchase the power generated under a 20-year power purchase agreement. The Wapsipinicon Wind Project, located in Mower County, Minnesota will be operated and maintained by enXco Service Corporation.

“The Wapsi project is another example of the performance of enXco’s team and its long term partners,” said Tristan Grimbert, president and CEO of enXco. “The project started development in 2002 but construction was triggered only after the PPA was signed in May 2008. We still achieved commissioning at the end of 2008 as planned, and today we have a well-operating project.”

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