- The 93-MW project is currently under
construction and will enter service by the end of 2016
ACCIONA Energy announced that it has closed tax equity financing
for the San Roman Wind Farm with Bank of America Merrill Lynch.
ACCIONA recently acquired the San Roman Wind Farm as part of the
company’s renewed focus on building renewable energy projects in
the U.S.
San Roman is a 93 megawatt (MW) wind power project located in
Cameron County, near the southeast coast of Texas. ACCIONA Energy
is currently constructing and will own and operate the San Roman
project, which is expected to be completed by the end of 2016.
The power generated by the project will create a more reliable
supply of electricity for Texas’ Rio Grande Valley, an area that
has suffered rolling blackouts in recent years due to a lack of
local electric resources. The San Roman Wind Farm will produce
enough energy to power more than 30,000 U.S. homes.
“As ACCIONA works to build new clean energy projects in the
highly competitive U.S. market, we need partners like Bank of
America Merrill Lynch who understand renewable energy and the
innovative financial solutions that can move our industry forward,”
said Ilya Hartmann, CEO of ACCIONA Energy North America. “This deal
was a team effort made possible by the collaboration, expertise,
and dedication of both parties.”
“Bank of America Merrill Lynch is pleased to work with ACCIONA
Energy on this significant wind power project in southeastern
Texas,” said Todd Karas, head of Renewable Energy Finance at BofA
Merrill. “We believe the financial services sector is in a unique
position to help and provide the much needed capital and financing
to accelerate a low carbon economy. Our $125 billion environmental
business initiative demonstrates that commitment through lending,
investing, capital raising, advisory services and developing
financing solutions.”
The San Roman Wind Farm will create roughly 80 full-time jobs
during construction and 7 permanent jobs during the operations
phase. Over its 25 year lifespan, the project is expected to pay
over $30 million in local taxes to benefit entities such as the
Cameron County schools, water districts and hospitals and is
expected to generate over $25 million in lease payments to local
landowners. ACCIONA will also establish a scholarship fund and a
community benefit fund to support the community.
Presence in North America
ACCIONA currently has 628 MW of wind power capacity operational
in the United States, with three wind farms in Oklahoma (329 MW),
one in North and South Dakota (180 MW), one in Illinois (100.5 MW)
and another two in North Dakota and Iowa (12 MW and 6 MW
respectively). It also has a 64 MW concentrating solar plant in
Nevada.
In nearby countries, the company owns and operates 181 MW of
wind power capacity in Canada (in Alberta, Ontario and New
Brunswick) and 556 MW in Mexico (all in Oaxaca).
With the new wind farm, ACCIONA Energy’s renewable energy
capacity will exceed 1,500 MW in North America.
ACCIONA will invest around $2.5 billion by 2020 to build new
renewable energy installations worldwide, increasing the Company’s
capacity by approximately 1,900 MW.
About ACCIONA
ACCIONA Energy is a global operator in renewable energies
with over 20 years’ experience in the sector. It owns and operates
220 wind farms totaling 7,208 MW; 79 hydro plants (888 MW); 314 MW
in CSP, 143 MWp in photovoltaic energy and 61 MW in biomass. The
company develops projects for third-party customers in wind and
photovoltaic power, produces wind turbines using in-house
technology and markets power to major customers.
www.acciona-energia.com
It belongs to the ACCIONA Group, one of Spain’s largest
corporations. It operates in infrastructure, energy, water and
services in over 30 countries. Its corporate motto “Pioneers in
development and sustainability” reflects its commitment — across
all its activities — to contribute to economic growth, social
welfare and the protection of the environment. This effort has been
recognized through its inclusion in the Dow Jones (DJSI) and
FTSE4Good sustainability indexes. ACCIONA is quoted on the Madrid
stock index, has a 33,000-strong workforce and posted revenues of
6,500 million euros in 2014. www.acciona.com
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial
institutions, serving individual consumers, small and middle-market
businesses and large corporations with a full range of banking,
investing, asset management and other financial and risk management
products and services. The company provides unmatched convenience
in the United States, serving approximately 47 million consumer and
small business relationships with approximately 4,700 retail
financial centers, approximately 16,000 ATMs, and award-winning
online banking with 32 million active users and approximately 19
million mobile users. Bank of America is a global leader in wealth
management, corporate and investment banking and trading across a
broad range of asset classes, serving corporations, governments,
institutions and individuals around the world. Bank of America
offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online
products and services. The company serves clients through
operations in all 50 states, the District of Columbia, the U.S.
Virgin Islands, Puerto Rico and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
''Bank of America Merrill Lynch'' is the marketing name for the
global banking and global markets businesses of Bank of America
Corporation. Lending, derivatives, leasing, equipment finance and
other commercial banking activities are performed globally by
banking affiliates of Bank of America Corporation, including Bank
of America, N.A., Member FDIC. Securities, strategic advisory, and
other investment banking activities are performed globally by
investment banking affiliates of Bank of America Corporation
(“Investment Banking Affiliates”), including, in the United States,
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill
Lynch Professional Clearing Corp., both of which are registered
broker-dealers and members of SIPC, and, in other jurisdictions, by
locally registered entities. Merrill Lynch, Pierce, Fenner &
Smith Incorporated and Merrill Lynch Professional Clearing Corp.
are registered as futures commission merchants with the CFTC and
are members of the NFA. Investment products offered by Investment
Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not
Bank Guaranteed.
©2016 Bank of America Corporation.
All rights reserved. Bank of America, Merrill Lynch, Broadcort
and their logos are trademarks of Bank of America Corporation
and/or its affiliates.
bankofamerica.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160204005461/en/
For ACCIONA:Peter Gray, 312-629-9400pgray@aileroninc.comorFor
Bank of America Merrill Lynch:Will Wilson,
980.388.3360will.wilson@bankofamerica.com
Bank of America (NYSE:BAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bank of America (NYSE:BAC)
Historical Stock Chart
From Sep 2023 to Sep 2024