Invenergy Wind LLC has closed construction financing for its 94 MW Orangeville Wind Farm, which is currently being built in Wyoming County, N.Y.
Rabobank acted as the mandated lead arranger, administrative agent and collateral agent, and Union Bank S.A. acted as the syndication agent and joint lead arranger for the transaction, which consisted of a construction loan and letter of credit.
Orangeville Wind is scheduled for completion later this year and will feature 58 GE 1.6-100 wind turbines. The project's output will be sold into the wholesale markets managed by the New York Independent System Operator, andÂ renewable energy credits will be sold to the New York State Energy Research and Development Authority.
Invenergy notes that Orangeville Wind is the company's second wind farm in New York, joining the 112.5 MW Sheldon Wind Farm, which began full commercial operations in 2009.