US Bancorp, Gestamp Wind North America and Banco Santander have completed the tax equity financing for the recently completed Flat Water wind facility in Nebraska, US.

The wind project, located in Richardson County, comprises of 40 units of GE wind turbine, each capable of producing 1.5MW of electricity with a total installed capacity of 60MW.

According to the American Wind Energy Association, 1MW of wind-generated power can supply electricity to approximately 240 to 300 households per year.

The facility has also secured additional funds from Rabobank, Third Planet Wind Power, an affiliate of Morgan Stanley Renewable Development Fund.

The wind power project was completed in December 2010 and is expected to generate 213GW of electricity a year.

Flat Water facility has signed a 20-year renewable energy purchase agreement with Omaha Public Power District (OPPD) to sell the utility company 100% of the project output including cost-effective, clean and reliable source of electricity, renewable energy credits and capacity.

OPPD a publicly owned, business-managed electric utility that serves more customers than any other electric utility in Nebraska.