29 Mar '13, 6pm

End of an Era: Midwest Wind Energy Exits Project Development, Sells Off Portfolio via @NAWindpower

Illinois-based Midwest Wind Energy (MWE) will no longer actively develop wind farms and has sold the majority of its project development portfolio to Minnesota-based Geronimo Energy. Michael J. Donahue, executive vice president of MWE, tells NAW that the company began searching for an alternative source of funds about 18 months ago, after losing capital from long-time joint-development partner Edison Mission Energy. “The hardest capital to come by today in the industry is the risk money that comes with developing projects from scratch,” he says. “We had partnered with Edison seven-and-a-half years ago to provide us with a development loan structure that funded all of our development activity. That aspect of the relationship changed when Edison had to curtail the development funding on its entire wind portfolio - not just Midwest Wind Energy - as a result of an internal fin...

Full article: http://nawindpower.com/e107_plugins/content/content.php?c...

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