CPV Renewable Energy Co. says it has closed financing for the construction of its 165.6 MW Cimarron Wind Energy Project in Gray County, Kan.
The company began construction of the wind farm in early December 2011 and expects that it will achieve commercial operation this November.
The project's 72 Siemens 2.3 MW wind turbines will supply Tennessee Valley Authority (TVA) customers with renewable energy under a 20-year power purchase agreement (PPA). CPV was awarded the PPA as part of TVA's 2009 request for proposals for renewable energy generation.
The project is managed by a CPV affiliate, is being constructed by Wanzak Construction (a MasTec company) and will be operated by North American Energy Services.
Coordinating lead arrangers Bank of Tokyo Mitsubishi UFJ and Union Bank of California were joined by mandated lead arrangers Helaba, Siemens Financial Services and Lloyds in providing $262.8 million of senior credit facilities.