Alterra Power Corp. has announced the expansion of its loan facility with affiliates of AMP Capital Investors Limited. The net proceeds, approximately US$20.6 million, will be used as part of Alterra's sponsor equity contribution for the Flat Top wind project.
The expanded facility will be secured by and supported by cash flows from Alterra's projected 51% ownership stake in the Flat Top project, in addition to security and cash flow support the facility currently receives from Alterra's interests in the Toba Montrose, Jimmie Creek and Dokie projects. The loan expansion will fund in conjunction with the completion of the Flat Top project financing, which Alterra expects to occur within the next few weeks. Alterra also expects to sell down a 49% interest in the project to a sponsor-partner.
The 200 MW Flat Top project, located in central Texas is contracted to sell the majority of its power under a 13-year power hedge with an affiliate of Citi. The project has previously contracted with affiliates of Vestas-American Wind Technology, Inc. for turbine supply and maintenance and Blattner Energy, Inc. for construction services. The project is expected to achieve commercial operations in the first half of 2018.
A recently formed affiliate of Hull Street Energy, has completed the acquisition of 100% of the ownership interests in Nautilus Hydro, LLC ("Nautilus Hydro") from funds managed by affiliates of The Carlyle Group.
Read moreThe AES Corporation has announced the closing of US$2.0 billion in long-term, non-recourse financing for its 1,384 MW Southland repowering project in Southern California.
Read moreEnel Green Power North America, Inc. (EGPNA), an Enel Group subsidiary, has signed an agreement, unanimously approved by the board of directors of US-based company EnerNOC, to purchase 100% of EnerNOC for a total consideration of approximately US$250 million.
Read moreUS-based Alliant Energy’s Wisconsin utility, Wisconsin Power and Light Co., has launched a request for proposals (RfP) for 200 MW of wind power capacity to be developed within the service territory of the utility.
Read moreEDF Renewable Energy has announced the signing of the Purchase and Sale Agreement by which Alliant Energy Corporation will acquire a 50% ownership interest in the 225 MW Great Western Wind Project.
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