January 9 (Renewables Now) - US renewables developer Invenergy announced on Monday it has secured funds for the construction of its 202.5-MW Upstream Wind Energy Center in Nebraska.
The funds came from a loan provided by Santander Global Corporate Banking, a unit of Spanish Banco Santander SA (BME:SAN), which was the sole lead arranger of the financing. Santander also served as administrative agent and provided a letter of credit facility to support the scheme.
The wind power facility, currently being built in Antelope County, is slated to begin commercial operations in the last quarter of 2018. To be powered by 81 turbines, it is expected to generate enough electricity for about 68,000 homes and businesses, once completed.
Invenergy expects the project to bring about USD 2 million (EUR 1.7m) annually to the local economy. It is Invenergy’s fourth wind project in Nebraska, the company said. According to its website, it owns three wind parks in Nebraska that form the 300-MW-plus Prairie Breeze Wind Energy Center.
(USD 1.0 = EUR 0.836)