CoBank has closed a US $43 million transaction with Iowa Lakes Electric Cooperative to provide permanent financing for a major wind energy project. The bond issuance arranged by CoBank financed 14 new wind turbines that, together, generate more than 71 million kilowatt-hours of renewable energy annually.
The project includes two seven-turbine wind farms that provide power to adjoining ethanol plants. One site is adjacent to an ethanol plant near Superior, Iowa, and the other sits next to a plant near Lakota, Iowa. The Iowa Lakes community-based wind farms are first-in-the-nation designs that utilize wind energy to serve another renewable energy source.