EDP Renewables Unit Gets $190 Million From BofA
EDP Renovaveis SA’s renewables unit in North America received $190 million of equity financing from Bank of America Merrill Lynch for a wind farm in Indiana.
EDP Renewables North America LLC agreed to exchange a stake in the 200-megawatt Headwaters project for the funding commitment, the Oviedo, Spain-based parent company said in a statement dated July 17. Terms of the transaction weren’t disclosed.
American Electric Power (AEP)’s Indiana Michigan Power Co. subsidiary has agreed to buy electricity from the Headwaters wind farm under a 20-year contract, EDP said in the statement.
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