Chicago-headquartered Invenergy Wind LLC, through one of its wholly owned subsidiaries, has begun erecting wind turbines for its 130.5 MW Camp Springs Wind Energy Center, located in Scurry County, Texas.
According to the company, construction began in the fall of 2006, and commercial operation is scheduled for June 2007. Invenergy Services LLC will serve as the project operator for the wind farm. The wind farm will consist of 87 General Electric 1.5 MW wind turbines, which are expected to generate enough energy annually to power about 40,000 homes. See ‘Invenergy Contracts With GE For Another 600 MW.’
JPMorgan Capital Corp. provided an equity commitment through an affiliate as lead investor and arranged for additional commitments from The Northwestern Mutual Life Insurance Co., Prudential Capital Group and Wells Fargo to provide equity financing upon commercial operation.
Initial construction financing was provided by Fortis Capital Corp. and Dexia Credit Local's New York branch. Syndication of the construction loan successfully closed the first week of January. Norddeutsche Landesbank Girozentrale's New York branch, Sumitomo Mitsui Banking Corp., Natixis, and Mizuho Corporate Bank Ltd., together with Fortis and Dexia, round out the lending group.