From the Boston Globe Business Team
Wind-power firm secures $44m in financing
March 28, 2007 03:04 PM
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UPC Wind has secured $44 million in equity financing for its Mars Hill Wind Farm in Maine.
The funding came from JP Morgan Capital Corp. and WFC Holdings Corp., UPC Wind said today.
It will be used to reduce debt associated with the Mars Hill project.
Construction began in early 2006, and the project has just achieved full commercial operation, the company said.
The wind farm currently supplies about 42 megawatts of power. That cuts pollution, the company said: about 65,000 tons of carbon dioxide and over 350 tons of other damaging pollutants every year.
(By Chris Reidy, Globe staff)
