E.ON Climate & Renewables has secured $150 million in funding from Bank of America Merrill Lynch. The bank will have a partial interest in the Pioneer Trail Wind Farm to be located in central Illinois. Clean Edge reports:
The project, located in Ford and Iroquois counties, is located 4 miles west of Paxton and consists of 94 GE 1.6 megawatt turbines providing more than 150 megawatts (MW) of power--enough to supply power to more than 45,000 households in the central Illinois region using North American made turbines, blades and towers. This project is expected to generate more than $29 million in local taxes, pay $8 million in local salaries, and earn landowners more than $50 million.