Duke Energy Finances Projects

nergy Generation Services (DEGS), a Duke Energy business unit that owns and develops renewable power assets, has financed a portfolio of wind farms through an affiliate, Green Frontier Windpower Holdings LLC. The wind farms include the 29 MW Happy Jack Windpower Project in Cheyenne, Wyo., which has 14 Suzlon wind turbines in operation; the 42 MW Silver Sage Windpower Project in Cheyenne, Wyo., which has 20 Suzlon wind turbines in operation; the 70 MW North Allegheny Windpower Project in Blair and Cambria counties, Penn., which has 35 Gamesa wind turbines in operation; the 99 MW Campbell Hill Windpower Project near Casper, Wyo., which has 66 GE wind turbines in operation; and the 51 MW Kit Carson Windpower Project in Burlington, Colo., which has 34 GE wind turbines and is expected to come online this year. The Green Frontier projects are fully contracted with creditworthy parties for terms of at least 20 years. Green Frontier has secured a 15-year term loan of approximately $325 million and letters of credit totaling roughly $50 million. The financing was arranged by Credit Agricole Corporate and Investment Bank, along with Banco Bilbao Vizcaya Argentaria, Banco Santander, Bank of Tokyo-Mitsubishi, CoBank N.A. and Lloyds TSB. SOURCE: [link=http://www.duke-energy.com/news/releases/2010052401.asp ]Duke Energy