Sumitomo Corp. of America, the U.S. subsidiary of Sumitomo Corp., and Duke Energy Renewables announced on April 26 that the companies have finalized their 50-50 ownership arrangement for two Kansas wind farms and secured approximately $353 million (28.53 billion yen) in financing for construction and operating costs.
Duke Energy Renewables, a commercial business unit of Duke Energy of Charlotte, N.C., announced plans on March 27 to sell a 50 percent stake in the 131-megawatt (MW) Cimarron II Windpower Project in Gray County and the 168-MW Ironwood Windpower Project in Ford County to Sumitomo. The companies will complete construction of both wind farms later this year.
The Cimarron II and Ironwood projects have long-term contracts in place to sell the electricity they generate and associated renewable energy credits (RECs) to Kansas City Power & Light and Westar Energy.
- « Prev
- Next »