BrownWinick Involved in Building Energy's First Wind Farm in Iowa
by James Pray Adam Van Dike Sheila Tipton
Friday, May 19, 2017
Building Energy, through its subsidiary Building Energy Wind Iowa, announced the completion of its first U.S. wind farm (“Project”) in Iowa, on Wednesday, May 3, 2017. Building Energy is a global renewable energy company with its firm headquarters in Milan, Italy. The Project will have the first turbines in the state with three megawatts of capacity and together will generate up to 110 gigawatt hours annually.
This newest Iowa wind energy project is primarily owned and operated by Building Energy, an Italian based company, along with the local development partner, Optimum Renewables, which is based in West Des Moines, Iowa. BrownWinick attorneys, James Pray and Adam Van Dike led the energy and real estate teams representing Capital One, the renewable energy tax credit equity buyer of the Project. Other BrownWinick attorneys that provided assistance included Sheila Tipton and Corrin Hatala.
The Iowa wind energy Project consists of ten turbines across four counties: Story, Boone, Hardin and Poweshiek. The turbines are made by Spanish-owned Acciona Windpower, which has facilities in West Branch, Iowa and has a ten-year contract to supply, operate and maintain the turbines. The total investment in the Project amounted to $58 million. In addition to supplying additional wind power, this Project will employ more than 100 local workers.