enXco, Inc. has announced that it has closed on the project financing for Minnesota's largest wind farm, the US$385 million Fenton Wind Energy Project under construction in Murray and Nobles Counties, Minnesota (USA), with its financial partners Union Bank of California and GE Energy Financial Services.
Union Bank of California, GE Energy Financial Services and other equity investors are financing the project. Union Bank of California, together with its affiliate, acted as lead underwriter for both the debt and equity financing for the project and will syndicate some of the equity. GE Energy Financial Services is the largest equity investor in the project, with a 50 per cent of the equity stake sold by enXco. Additional financial details were not disclosed.
