Chicago-based Invenergy Wind has announced the successful refinancing of its 100.5 MW Beech Ridge Energy wind project, located in Greenbrier County, W.Va. CoBank, ACB acted as the mandated lead arranger and administrative agent for the transaction.
Beech Ridge, which began commercial operations in 2010, is located approximately 60 miles southeast of the city of Charleston. The facility features 67 GE 1.5 MW SLE wind turbines and is operated and maintained by Invenergy Services LLC, an affiliate of Invenergy. The project's output is sold to Appalachian Power Co., a subsidiary of American Electric Power, under a long-term power purchase agreement.
"Beech Ridge represents the latest financing in a 10-year banking relationship between CoBank and Invenergy. We appreciate CoBank's long-term support of our business," says Jim Murphy, chief financial officer and chief operating officer of Invenergy. "This transaction is a vote of confidence in our asset management capabilities, with Invenergy's operating wind power generation portfolio now totaling approximately 3,000 MW."