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Article: Cannon Power receives $178m from Siemens.(Siemens Financial Services)(Brief article)
- Article from:
- San Diego Business Journal
- Article date:
- October 19, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Cannon Power Group, a San Diego wind energy business, said it recently closed a $178 million financing deal with Siemens Financial Services, allowing it to expand an existing wind generation project in southern Washington.
Cannon plans to use the funds to pay down some of its debt, and build another part of the project, adding 60 megawatts to bring the total capacity of the turbines at Windy Point/Windy Flats to 262 megawatts, the company said Oct. 13.
The expansion is expected to be completed by the end of ...