Invenergy Selling Wind Power to 3M
Invenergy says that it and 3M have signed a power purchase agreement (PPA) under which the manufacturer will get 120 MW of wind energy for its North American operations.
Included in the agreement is wind energy from the Gunsight Wind Energy Center, which is being constructed in Howard County, Texas. That energy will be trafficked to the Electric Reliability Council of Texas (ERCOT) regional electricity grid. The addition of Gunsight means that Invenergy will operate more than 1,700 MW of power plants in the state, according to the press release. The press release says that 3M’s goal is to use 25 percent renewable energy by 2025.
North American Wind Power reports that Invenergy Wind has arranged debt and tax equity project financing for the Gunsight project. The sole lead arranger, administrative agent and lender for the construction financing is the New York City branch of Cooperative Centrale Raiffeisen-Boerenleenbank BA.
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