to-the-point: GCube to insure 200-MW Xcel wind project in US Midwest

Wind turbines in USA. Author: Sam Churchill. License: Creative Commons. Attribution 2.0 Generic

Specialist renewable energy underwriter GCube announced on Tuesday it has agreed to insure Xcel Energy’s (NYSE:XEL) 200-MW Courtenay wind project in the US state of North Dakota.

The deal calls for GCube to provide insurance for all construction risks. Xcel started building the 200-MW wind farm in late September and expects to complete it by the end of next year. The plant will comprise 100 pieces of Vestas V100-2.0 MW turbines.

The project was originally developed by Minnesota-based Geronimo Energy and was bought by Xcel earlier this year.

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