Jan. 8 (Bloomberg) -- EDF Renewable Energy, a U.S. unit of French utility Electricite de France SA, has closed financing on the 102.5-megawatt Shiloh IV Wind Project in California.
The wind farm became operational last month and generates electricity for about 40,000 homes, according to a statement today from the San Diego-based company. Pacific Gas & Electric Co. has a 25-year agreement to purchase the power.
EDF Renewables, formerly enXco, closed a sale-leaseback deal with Union Bank of California Leasing, Inc., the third arrangement between the companies in 2012, EDF Renewables CEO Tristan Grimbert said in the statement. The Shiloh project “demonstrates our ability to identify the optimal financing solution for each individual project.”
REpower Systems SE, the German unit of Pune, India-based Suzlon Energy Ltd., supplied 50 turbines for the project in Solano County, California.
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