Wells Fargo

Wells Fargo’s Renewable Energy and Environmental Finance unit has completed $70m in tax-equity funding for the Pacific Plains wind projects, including facilities in Indiana, Nebraska, and California in the US.

The latest development comes after Wells Fargo announced $200bn financing last week through 2030 to sustainable businesses and products.

Renewable-energy power company NextEra Energy developed and built the Pacific Plains wind projects and also operates and manages the new facilities.

The 120-megawatt (MW) Bluff Point wind facility in Jay and Randolph Counties, Indiana; the 90-MW Cottonwood wind facility in Webster County, Nebraska; and the 46-MW Golden Hills North wind facility in Livermore, California supply power to local utilities.

Over the past ten years, Wells Fargo has partnered with NextEra Energy on 14 wind projects throughout the country.

Together, the projects will generate more than five million megawatt-hours (MWh) of clean energy annually.

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Wells Fargo Renewable Energy and Environmental Finance co-head Barry Neal said: “Wells Fargo’s investment in the Pacific Plains projects continues our commitment to the US renewable energy market and the advancement of clean energy.

“We’re especially pleased to continue our longstanding relationship with NextEra, focusing on our nation’s energy needs today and for the future.”

In 2017 alone, the company produced more than 9% of all solar photovoltaic and wind energy in the US through projects owned in whole or in part by the bank in 33 states and Puerto Rico.