US-based search engine Google and US-based bank Citigroup have invested an additional $204m in Alta Wind Energy Center, the largest US wind energy project.
Alta Wind said it would use the money to develop its fifth wind project, and it follows the two corporate investors last month investing $110m to build its fourth project.
Alta Wind, which is a wind centre based in Tehachapi, California, said the money would give it a generating capacity of 1,550 megawatts (MW), making its capacity nearly double the size of any rival wind project in the US.
Rick Needham, director of Green Business Operations at Google, said: "We are excited to make this additional investment in the Alta Wind Energy Center because the project harnesses a proven local wind resource through a clean power transmission line, to help California meet its ambitious renewable energy goals while using an innovative financial structure that may attract more investment in renewable energy projects from new types of investors."
Michael Eckhart, global head of Environmental Finance and Sustainability at Citigroup, said: "We are thrilled to continue our support for the Alta Wind Energy Center, utilising innovative financial solutions to help bring it to market. This project is a national model for the economic viability of large scale renewable energy projects and we hope it will encourage further investment in the space as we work to expand the clean energy economy in the US."
Alta Wind is being built by Terra-Gen Power, an affiliate of energy investment firm ArcLight Capital Partners and infrastructure firm Global Infrastructure Partners.