CIP finances wind project in Texas
Copenhagen Infrastructure Partners (CIP), through the fund Copenhagen Infrastructure II K/S, have provided a US$61 million mezzanine loan for the construction of the onshore wind farm Fluvanna I in Scurry County, Texas.
Fluvanna I is owned and operated by Terna Energy S.A. The total investment in Fluvanna I will be US$251 million.
Fluvanna I will consist of seventy-four 2.1 MW Gamesa turbines for a total project rated output of 155.4 MW. The wind project is expected to commence commercial operations in the fourth quarter of 2017.
Wanzek, a leading contractor in the US onshore wind market, has been awarded with the EPC contract. Gamesa will provide operational and maintenance services (O&M) for the turbines and Terna will be responsible for the operation, maintenance and management of the wind farm.
International law firm Watson Farley & Williams (WFW) has acted as financial advisor for CIP on the loan for the project development
Christian Skakkebæk, Senior Partner in CIP, commented:
“Fluvanna I is our first investment in partnership with Terna Energy. We are very pleased with working closely together with a technically skilled partner and look forward to successful completion of the onshore wind project in cooperation with all project stakeholders".
Emmanouel Moustakas, CEO of Terna Energy USA Holdings Corp, said:
“The Fluvanna I project is our second US onshore wind project and the first in our Texas portfolio to reach Financial Close Date. We are pleased with our cooperation with CIP that includes plans for two additional projects”.
CIP and Terna intend to continue to jointly develop wind farms in Texas, beginning with the Fluvanna II wind farm project adjacent to Fluvanna I with an expected output of 130 MW.
Country news
-
-
December 02, 2016
EDF Renewable Energy sells wind park to Otter Tail Power Company
EDF Renewable Energy and Otter Tail Power Company has announced the signing of an Asset Purchase Agreement by which EDF RE will construct the 150 MW Merricourt Wind Project. Upon completion, the wind project will be turned over to Otter Tail Power Company. The transaction closing is subject to conditions precedent.
Read more -
December 01, 2016
NRG Closes on 1,500 MW of wind and solar assets
NRG has closed on the acquisition of all projects within NRG’s 1,500 MW SunEdison transaction.
Read more -
November 30, 2016
Amazon and Dominion to develop 180 MW of solar projects
Dominion has announced a major expansion of its solar alliance with Amazon to add 180 MW of solar generating capacity in five Virginia counties.
Read more -
November 29, 2016
PSEG Solar Source acquires 6.6 MW solar project from BayWa r.e.
PSEG Solar Source has announced it has acquired a 6.6 MW-DC PSEG Hemlock Solar Energy Center from BayWa r.e. Solar Projects representing an investment of US$12.2 million.
Read more -
November 29, 2016
Axium Infrastructure announces acquisition of 110 MW solar portfolio from Renewable Energy Trust Capital
Axium Infrastructure has acquired 100% interest in a 84 MWAC solar portfolio from Renewable Energy Trust Capital.
Read more
