Invenergy has announced that it has arranged construction financing for its 257 MW Wake Wind Energy Center, which currently is under construction in Dickens, Crosby and Floyd counties in Texas.
Morgan Stanley & Co. LLC and its affiliates acted as sole lead arranger, administrative agent and lender for the construction financing.
The Wake Wind Energy Center is located approximately 10 miles northeast of the City of Crosbyton and 50 miles east of Lubbock. The facility will consist of 150 GE 1.715 MW wind turbines, and commercial operation is expected to commence in the third quarter of this year.
“Wake Wind adds to our growing portfolio in Texas, bringing our total wind generation to nearly 2,000 MW in the state,” says Jim Murphy, Invenergy’s CEO and chief financial officer.
Blattner Energy Inc. is the project’s contractor for the civil/mechanical scope and transmission line, while EPC Services is the contractor for the electrical substation. According to Invenergy, Wake Wind is creating over 200 construction jobs and a dozen permanent jobs once the project begins operation. In 2015, Invenergy signed a deal to provide 125 MW of renewable energy to Owens Corning, an insulation, roofing and fiberglass manufacturer.
The wind farm will make annual payments to each of the counties and lease payments to participating landowners.