It is the largest of the funds given to stimulate renewable energy investment made in the Cayuga Ridge wind farm by the company, which has already received $867 million through this kind of incentives granted effective by the U.S. Treasury Department investments in the framework of the Law on Stimulating the Economy.
The $170 million, the company announces, will be fully reinvested in the development of renewable projects in the country, and allow you to consolidate its commitment to the United States, a key market in its future growth strategy.
Cayuga Park Ridge is one of the largest wind farms in the world, with 300 MW of installed capacity. It is located in the state of Illinois, south of the city of Chicago, near the towns of Odell and Emington, and its implementation have worked more than 300 people.
Iberdrola Renovables has ensured the profitability of this wind project for the next 20 years, through a long-term contract with the U.S. company of Valley Authority, an agreement that guarantees the profitability of the entire energy production of this park during that period.
The U.S. subsidiary of the company has grown into the second wind energy operator in the country with presence in 23 states, has an installed capacity of 3877 MW, distributed among 41 wind farms, and has another 850 MW currently under construction.