Iberdrola Renovables announced the company has received USD 170 million in stimulus funding through a grant from the US government, for the start-up of the Cayuga Ridge wind farm project. This is the largest single amount ever awarded as a grant to a company for the development of a renewable energy project in the US.

To date, Iberdrola Renovables has received a total of USD 867 million as an incentive, as part of the US government's stimulus package for renewable energies as encouragement for companies to invest in the country.

Cayuga Ridge wind farm has 300 MW of installed capacity, and is located in Illinois, south of Chicago. The company has secured a 20-year PPA with the Tennessee Valley Authority, whereby all the power produced will be sold to the utility for the duration of the PPA. The PPA was signed back in January this year.

[source: Iberdrola Renovables]