Invenergy Renewables LLC has arranged construction financing for its 300 MW Santa Rita Wind Energy Center, under construction in Reagan, Irion and Crockett counties in Texas.
Morgan Stanley & Co. LLC and its affiliates acted as sole lead arranger, administrative agent and lender for the construction financing. Blattner Energy Inc. is the project’s contractor for civil/mechanical scope and the transmission line, while RES System 3 is the contractor for the electrical substation.
Comprising 120 GE 2.5 MW wind turbines, Santa Rita Wind is located approximately 70 miles west of San Angelo. Commercial operation is expected to commence in the first quarter of next year.
According to Invenergy, the project will produce enough electricity to power approximately 122,000 homes, as well as create more than 300 construction jobs and up to 15 full-time, permanent jobs. Further, the project will generate over $100 million in local economic development in its first 20 years of operation through tax payments, lease payments to participating landowners, and wages and benefits for employees.
“We’re pleased to have reached financial close for our Santa Rita project, which is Invenergy’s largest wind project to date,” states Jim Murphy, president and chief operating officer at Invenergy.