Invenergy has arranged project debt and tax equity financing for its 288.6 MW Miami Wind Energy Center, which is under construction in northern Texas.
Morgan Stanley & Co. arranged the project debt, including a construction loan and a term loan commitment. Tax equity commitments also were secured from several financial institutions, notes Invenergy. Further financial details were not disclosed.
The wind farm, which will use 156 GE 1.85 MW wind turbines, is located in the Texas Panhandle, approximately 80 miles northeast of Amarillo in Roberts, Hemphill, Gray and Wheeler Counties. Commercial operation is scheduled to begin in the third quarter of 2014.
Invenergy, which acquired the project from Austin, Texas-based Pioneer Green Energy LCC, says that RMT Inc. will perform balance-of-plant duties while System 3 Inc. will construct the project's substation and transmission line.