E.ON Climate & Renewables (EC&R) North America has secured $150m institutional equity financing from Bank of America (BofA) Merrill Lynch in exchange for the bank’s partial interest in the Pioneer Trail Wind Farm located in Illinois, US.
The Pioneer Trail wind farm located in Ford and Iroquois counties 4 miles west of Paxton, uses 94 wind turbines of GE each with a generating capacity of 1.6MW to produce sufficient renewable energy to power over 45,000 households.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The wind project also uses North American made turbines, blades and towers
EC&R North America CEO Steve Trenholm said the company welcomes Bank of America Merrill Lynch as an investor in our Pioneer Trail Wind Farm.
E.ON AG Finance senior vice president Verena Volpert said EC&R closely analyzes the specific aspects of each project to find a customized transaction tailored for the best fit.
"We look forward to a mutually beneficial long-term relationship with BofA Merrill," Volpert said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBanc of America Public Capital Corp president Todd Karas said E.ON is a significant BofA Merrill institutional client, and the bank has expanded its relationship through this renewable energy project that also supports the local Illinois economy.
"Our investment in the Pioneer Trail Wind Farm is another step in Bank of America’s 10-year, $20 billion environmental business commitment," Karas said.
The Pioneer Trail Wind Farm is the EC&R’s 15th operational wind farm in North America which has boosted its total online capacity to 2,200MW.
E.ON Climate & Renewables (EC&R) is responsible for the E.ON group’s renewable energy and environmental protection activities around the world.
Bank of America is a financial institution serving individual consumers, small- and middle-market businesses and large corporations.
Bank of America Public Capital Corp includes BofA Merrill’s Renewable Energy Finance group.
