Invenergy names lender partners for 250-MW wind project

Wind turbines in Illinois, USA. Author: Tom. License: Creative Commons. Attribution 2.0 Generic.

January 26 (Renewables Now) - Chicago-based renewables developer and operator Invenergy has secured the needed financing and subsequently commenced construction work on a 250-MW wind farm in Illinois.

The company said in a statement on Tuesday that late last year it arranged a senior secured construction loan and letter of credit facility for the Sapphire Sky Wind Energy Center project with KeyBanc Capital Markets, CaixaBank and National Bank of Canada.

The construction process was initiated at the end of 2021 and is seen to last 12 months until December 2022. Upon completion of the plant, Milwaukee-based WEC Energy Group (NYSE:WEC) will buy a 90% stake in it, leaving a minority interest to Invenergy.

The wind park is being built at a site in McLean County, where turbines supplied by Denmark’s Vestas will be installed. Their operation and maintenance will be handled by Invenergy Services.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription