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EDP Renewables North America has secured US$ 400 million of institutional equity financing, from Citigroup Global Markets and an undisclosed financial institution, in exchange for an interest in the 200MW Meadow Lake VI and 199MW Prairie Queen.
The projects are located in the state of Indiana and Kansas respectively. Both projects have previously secured long-term sales agreements. Under the agreement, funding of Meadow Lake VI project, which totals $193.5 million, is already completed and Prairie Queen funding will be completed closer to the start of operations of such project, which is scheduled to occur in the first half of 2019.
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