E.ON secures financing for Illinois wind farm
The project consists of 94 GE 1.6 MW wind turbines
Chicago, February 3, 2012 — E.ON Climate & Renewables North America announced secured $122.2 million of institutional equity financing from JP Morgan and Wells Fargo in exchange for a partial interest in its recently completed Settlers Trail Wind Farm. JP Morgan acted as lead investor in the financing.
The project, the first wind farm in Iroquois County, Ill., is located 10 miles west of Watseka and consists of 94 GE 1.6 MW wind turbines providing more than 150 MW of power — enough to provide clean power to more than 45,000 households in the central Illinois region using North American made turbines, blades and towers.
This project is expected to generate more than $29 million in local taxes, pay $8 million in local salaries, and earn landowners more than $20 million. At the height of construction, the Settlers Trail Wind Farm project brought more than 200 jobs to the area.