Invenergy and CoBank finalize financing for Prineville and Millican Solar Energy Centers in Oregon

Invenergy and CoBank has completed the construction financing for two solar projects totaling 100 megawatts, Prineville and Millican Solar Energy Centers, in Oregon, USA.

CoBank acted as sole Lead Arranger and Administrative Agent for the financing, which includes a construction loan, letter of credit facility, and back-leverage term loan.

Located in Crook County, Prineville and Millican are under construction and scheduled to be operational at the end of 2020. The projects together will support approximately 200 jobs over the course of the construction period.

The projects are contracted under long-term power purchase agreements (PPAs) with PacifiCorp, a partnership that was announced in 2018 to support Facebook’s data center in Prineville, Oregon, with new solar power.