Wells Fargo made the new funding to the NextEra Energy’s assets through its renewable energy and environmental finance unit.
Wells Fargo has been partnering NextEra Energy for more than 10 years on 14 wind projects across the US, that collectively produce over 5MWh of clean energy annually.
The new facilities operated by NextEra Energy include the 120MW Bluff Point wind facility in Jay and Randolph Counties in Indiana, the 90MW Cottonwood wind facility in Webster County in Nebraska, and the 46MW Golden Hills North wind facility in Livermore in California.
The Bluff Point wind farm, which was built with an investment of $200m, is made up of 57 GE wind turbines. The wind farm supplies its power to customers of Appalachian Power, an affiliate of American Electric Power (AEP).
Wells Fargo renewable energy and environmental finance co-head Barry Neal said: “Wells Fargo’s investment in the Pacific Plains projects continues our commitment to the U.S. renewable energy market and the advancement of clean energy.
“We’re especially pleased to continue our longstanding relationship with NextEra, focusing on our nation’s energy needs today and for the future.”
Wells Fargo has pledged to fund $200bn to support sustainable businesses and projects by 2030. Out of this, more than 50% will be allotted by the US financial services giant on companies and projects that directly help in the transition towards a low-carbon economy.
Wells Fargo has earmarked $100bn plus funding on clean technologies, renewable energy, green bonds, and also on alternative transportation.
