Invenergy obtains financing for 200.6-MW Nevada wind project
Oct 3, 2013 - US clean energy company Invenergy LLC said Wednesday it had secured debt and tax equity financing for the 200.6-MW Prairie Breeze wind scheme in Nebraska.
The financing package includes construction and term loans with Sovereign Bank NA, part of Spanish lender Banco Santander (MCE:SAN), Prudential Capital Group and Dutch banking group Rabobank, which served as joint lead arrangers and book-runners of the deal. Affiliates of GE Energy Financial Services, part of General Electric Co (NYSE:GE), BofA Merrill Lynch and JP Morgan (NYSE:JPM) provided tax equity commitments.
The Prairie Breeze wind farm will be powered by 118 turbines of General Electric, each with a capacity of 1.7 MW. Once up and running, it is expected to be able to generate enough electricity for about 100,000 households. The facility is planned to start commercial operations later in 2013, selling its output to Omaha Public Power District (OPPD) under a long-term power purchase agreement (PPA).
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.