Fortis Invests Tax Equity in Iberdrola’s First U.S. Wind Farm

New York [RenewableEnergyAccess.com] Fortis has closed and funded a $26 million equity investment in Iberdrola’s 26-megawatt (MW) Locust Ridge wind farm located in Mahoney City in Schuylkill county, Pennsylvania. Fortis Capital, a division of Fortis, is the sole tax equity provider in this project. Power from Locust Ridge will be fed into the PJM grid and purchased by Pennsylvania-based utility PPL via a long-term power purchase agreement (PPA). Locust Ridge will have an estimated annual output of 70 GWh.
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