First Wind Secures $210 Million Financing For Palouse Wind Project

Posted by NAW Staff on December 19, 2011 No Comments
Categories : Projects & Contracts

First Wind has obtained $210 million in financing for subsidiary Palouse Wind LLC, the owner of the 105 MW Palouse Wind project located in northern Whitman County, Wash.

With financing in place, First Wind says it will continue on schedule with construction of the largest renewable energy facility in the county with the capacity to generate enough clean energy to power about 30,000 Northwest homes, equal to the total energy load of all of Whitman County.

As part of the financing, Palouse Wind LLC closed an approximate $170 million construction and term facility loan, and letters of credit of up to $40 million. The KeyBank National Association served as the joint lead arranger and administrative agent, and Nordduetsche Landesbank Girozentrale, CoBank ACB and Banco Santander served as joint lead arrangers, First Wind says.

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