Financial close on 400 MW wind farm in the USA
U.S. renewable energy developer Terra-Gen has closed construction financing on its 400 MW High Prairie Wind Power Facility. The US$650 million financing resulted from the attractive development attributes of the project, its Build Transfer Agreement with Ameren Missouri and Terra-Gen's strong banking relationships.
The wind facility, located in Schuyler and Adair Counties in northeastern Missouri, USA, is under construction and is expected to be completed by late Q3 2020. Once completed, the facility will be transferred to Ameren Missouri under a Build Transfer Agreement executed in April 2018.
175-turbine High Prairie Wind Power Facility will generate enough power annually for approximately 125,000 homes. The project will provide significant economic benefits to the local counties, school districts and landowners, including jobs throughout the construction and operation of the project.
The financing was provided by the group of banks led by MUFG Bank, Ltd. The group also included Canadian Imperial Bank of Commerce, Citibank, N.A., ING Capital LLC, KeyBanc Capital Markets Inc., and Mizuho Bank, Ltd.
Terra-Gen's Chief Executive Officer Jim Pagano said - "This financing will allow us to complete the on-going construction of the facility and help Ameren Missouri to meet its goal of delivering more renewable energy to its customers."
Terra-Gen, LLC is a U.S. developer, owner, and operator of utility-scale renewable energy projects in North America. Terra-Gen owns approximately 1,180 MWs of wind, geothermal and solar generating capacity in operation across 33 renewable power facilities throughout the United States.It is wholly owned by Energy Capital Partners.
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