Scout Clean Energy Secures Financing for Bitter Ridge Wind Farm

By Editor


Scout Clean Energy, a renewable energy developer-owner-operator, has announced the closing of a back-leverage financing transaction for its 130 MW Bitter Ridge Wind Farm located in Jay County, Indiana.

Operating since 2020, the project’s financing deal represents the first step in Scout’s strategic initiative to recycle capital from existing projects to fund new developments within its extensive 19 GW wind, solar, and storage pipeline across the United States.

John Clapp, Chief Financial Officer at Scout Clean Energy, expressed satisfaction with the innovative financing structure employed for the operational portfolio.

The Bitter Ridge Wind Farm has entered into a tax incentive agreement with Jay County, resulting in economic benefits for the local community. The project has contributed $1.56 million towards various local initiatives, bolstering economic development efforts in the region. Jay County will receive more than $18 million in tax revenues over the project’s expected lifespan, with a substantial portion allocated directly to Jay County Schools.

The financing and ongoing contributions of the Bitter Ridge Wind Farm underscore Scout Clean Energy’s commitment not only to renewable energy development but also to fostering economic growth and community welfare in the areas where it operates.

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