Wells Fargo Finances More Wind Projects

After California-based Wells Fargo announced a new $200 billion renewable energy financial commitment last week, the company wrapped up $70 million in tax-equity funding for wind projects in Nebraska, Indiana and California.

The funding is for Pacific Plains wind farms including a 90 megawatt Cottonwood wind operation in Webster County, Nebraska.

Wells Fargo has teamed with NextEra Energy on 14 wind projects in the past ten years.  NextEra developed and built the Pacific Plains wind projects and also operates and manages the new facilities.

The company had acquired Plains and Eastern Clean Line Oklahoma LLC last December, intending to build a 720-mile power line carrying wind generated electricity from the Panhandle east to Memphis, Tennessee. But that project is in limbo after the U.S. Energy Department ended its partnership in the $2.2 billion transmission line.

“Wells Fargo’s investment in the Pacific Plains projects continues our commitment to the U.S. renewable energy market and the advancement of clean energy,” said Barry Neal, co-head of Wells Fargo Renewable Energy and Environmental Finance. “We’re especially pleased to continue our longstanding relationship with NextEra, focusing on our nation’s energy needs today and for the future.”