Duke-Sumitomo Venture Lands $353M For Kan. Wind Farms

Law360, New York (April 26, 2012, 1:37 PM EDT) -- Duke Energy Corp.'s renewables unit has finalized a joint venture with Sumitomo Corp. of America that has landed $353 million worth of financing for two Kansas wind projects, with nearly 300 megawatts of combined generation capacity, Duke announced Thursday.

The 50-50 ownership agreement gives Charlotte, N.C.-based Duke Energy Renewables LLC and Sumitomo — a New York-based subsidiary of Japanese trading company Sumitomo Corp. — equal stakes in the 131-megawatt Cimarron II Windpower Project and the 168-megawatt Ironwood Windpower Project, according to a statement Duke issued Thursday....
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