Western Wind also signed a 40-year land lease with the Puerto Rico Land Authority for a (401) acre parcel located within the Municipality of Yabucoa, Commonwealth of Puerto Rico.
Most of the Environmental approvals are essentially complete and Western Wind is in the final permitting; engineering, procurement and construction; and tax structuring and project finance negotiation stages.
In January 2011, Western Wind conducted a thorough site and island visit with a member of the lending group that provided the financing for the recently financed, 120MW Windstar project in California.
The expected completed costs of the Yabacoa solar project is up to $150m, to be financed by project tax equity and project debt.
