September 5 (Renewables Now) - US renewables developer Terra-Gen LLC has closed construction financing for the 400-MW High Prairie wind project, which is currently being installed in Missouri.
The USD-650-million (EUR 589.5m) project financing was provided by a consortium of lenders led by MUFG Bank Ltd. The group of banks also included Canadian Imperial Bank of Commerce (TSE:CM), Citibank NA, ING Capital LLC, KeyBanc Capital Markets Inc and Mizuho Bank Ltd.
The particular wind park is being built in Schuyler and Adair Counties in northeastern Missouri and is slated for completion by the end of 2020’s third quarter, Terra-Gen said on Wednesday. The company has in place a build-transfer agreement (BTA) with utility Ameren Missouri, under which, following completion, the power plant will go into Ameren Missouri’s hands.
Once fully operational, the 175-turbine High Prairie wind park will be capable of producing enough power for nearly 125,000 homes annually.
(USD 1.0 = EUR 0.910)