BayWa r.e. Wind announced today that it has secured a tax equity investment for its Brahms Wind Project from an affiliate of San Francisco-based Union Bank, N.A. BayWa r.e. self-funded the development and construction of the wind farm located in Curry County, New Mexico, which achieved commercial operation on February 7, 2014. With Brahms, BayWa r.e. constructed, owns, and operates three wind projects in New Mexico, Texas, and California.
“This is a very important milestone for our company,” said Florian Zerhusen, chief executive of BayWa r.e.’s U.S. wind business. “Since BayWa’s takeover two and half years ago, we have self-funded all of our projects and this marks our first tax equity financing. Going forward, we intend to continue to access the tax equity market as well as other forms of project finance to build out our pipeline.”
BayWa r.e. maintains an equity stake in the Brahms Wind Project, serves as managing member and will provide asset management services.
BayWa r.e. Wind
Filed Under: Financing, News, Projects