Great News for Wind Power and Kansas

     Great news for Kansas from United States Treasury Department - the Caney River wind project is a go!

     Here's the info -
 

Enel Green Power, through its subsidiary Enel Green Power North America (EGP NA), has been awarded a $99 million grant by the United States Treasury Department for the construction of the Caney River wind farm in Kansas.

With a total installed capacity of around 200 MW, Caney River can generate over 750 million kWh annually, saving more than 500 thousand metric tons of CO2 every year. The energy generated by the Caney River wind farm is being purchased by the Tennessee Valley Authority under the terms of a 20-year contract. 

     The grant, awarded under Section 1603 of the American Recovery and Reinvestment Act of 2009, will be allocated to the consortium led by J. P. Morgan with whom EGP NA signed a tax equity partnership agreement in December 2011 for Caney River and for the Rocky Ridge wind farm. The two projects are worth approximately$ 340 million.  Other members of the consortium include Wells Fargo Wind Holdings and Metropolitan Life Insurance Company.

Tax equity partnerships are instruments governed by United States fiscal law which allow tax benefits to national renewable energy generation companies to be assigned to passive investors—the tax equity investors.

     Enel reports that the Caney River wind project “provides 8.5 million dollars in funding for the plan to protect the tallgrass prairie environment in Kansas. Specifically, the funding will help to protect over 18,000 hectares, restore 6,000 hectares of the tall grass prairie habitat and conduct research on this eco-system’s wind patterns and wildlife.”

Enel Green Power North America operates and manages more than 70 plants, with an installed capacity in hydroelectric, wind, geothermal, solar, and biomass of 1,238 MW.

thanks to smartmeters.com for publishing this info