Invenergy Wind has completed debt and tax equity project financing for its Prairie Breeze II Wind Energy Center, which is currently under construction in Antelope and Boone counties, Neb.
Santander Bank N.A. acted as the sole lead arranger, administrative agent, and lender for the construction financing. Tax equity commitments were provided by a financial institution. Details were not disclosed.
According to Invenergy, the facility will have the capacity to generate approximately 73 MW of power from 41 GE 1.79 MW wind turbines when commercial operation commences in the fourth quarter. The Lincoln Electric System has agreed to buy the project's output under a long-term power purchase agreement.Â Â
‘With an outstanding wind resource, Nebraska has tremendous potential to become a national renewables leader, and we're pleased to reach financial close for Invenergy's second wind power generation project in the state,’ says Jim Murphy, Invenergy's chief financial officer and operating business group president.Â
Prairie Breeze II is the second phase of Invenergy's original Prairie Breeze Wind Energy Center. Prairie Breeze, a 201 MW wind farm, began operating in 2014. Prairie Breeze III, a 36 MW project, is expected to begin operating in 2016.