E.ON achieves successful commercial operation and tax equity financing for Stella wind farm

E.ON has announced the successful completion and tax equity financing of its 201 megawatt (MW) Stella wind farm in Kenedy County, Texas.

Allianz Capital Partners of America on behalf of Allianz insurance companies provided tax equity financing in exchange for a partial interest in the Stella project. The project achieved commercial operation and closing of tax equity in December 2018.

The project, powered by 67 Acciona AW-125 3.0 MW turbines, will produce enough electricity to power more than 60,000 homes and establishes E.ON's leadership in coastal wind projects with more than 1 gigawatt in operation.

Approximately 300 construction jobs were created to bring the project online and local contractors spent more than $12 million on local products and services. Stella Wind Farm is projected to generate more than $25 million in revenue for Kenedy County. This additional revenue will support essential county services and local schools.

E.ON has developed, built, and operates more than 3,800 MW of wind, solar and energy storage renewable energy projects across the U.S., with more on the way. E.ON also offers O&M and asset management services to third party owner/operators looking for "Service with an Owner's Eye."