OwnEnergy, which will have minority stake in the project, will oversee the construction as well as operations after commissioning. The company will begin construction on the plant in December this year and expects to complete it in fall 2014.
Morgan Stanley and its affiliates will provide construction financing, while J.P. Morgan will provide institutional equity for the project.
OwnEnergy founder and CEO Jacob Susman said the latest project is the company’s fifth successful project bringing the total of in-construction and spinning wind farms it has to over 210MW.
"OwnEnergy’s project pipeline now consists of 1,400MW of community-scale wind across 16 states.
"Adding construction and asset management capabilities to our offering allows us to work directly with world-class financial institutions, like BlackRock, J.P. Morgan, and Morgan Stanley, while creating a lasting connection between them and the energy entrepreneurs who are the cornerstone of our development model," added Susman.
OwnEnergy has collaborated with Horn Wind for the project and that represents the second time the former associated with the later one. Earlier they have jointly developed the Windthorst-1 project, now called as the Bobcat Bluff wind farm.
