Italian firm plans $56 million wind project in central Iowa

Source: By Donnelle Eller, Des Moines Register • Posted: Thursday, June 2, 2016

An Italian company says it has reached an agreement to build a $56 million wind farm in central Iowa with the capacity to generate 30 megawatts of energy.

Building Energy SPA said its subsidiary, Building Energy Wind Iowa, will provide $23 million of the project cost, with Capital One Bank kicking in $33 million.

The project, consisting of 10 wind turbines, is the groups’ first in Iowa and is slated to be constructed in Story, Boone, Hardin and Poweshiek counties.

Building Energy will work with Optimum Renewables, a Des Moines renewable energy developer, in building the project.

The groups said it will generate enough wind energy to power 11,000 U.S. homes and cut about 100,000 tons of carbon emissions. That equals removing 21,276 cars from the road.

The wind farm is supported by a long-term power purchase agreement, the groups said.

Capital One Bank, based in McLean, Virginia., will receive the tax and financial benefits that come from the project, the groups said.

Building Energy says it’s been building renewable energy projects in the U.S. since 2013, with an office in Washington, D.C. It manages projects totaling about 100 megawatts of energy.