Duke Energy is leveraging its ownership of its Top of the World wind project, which is in operation near Casper, Wyo., to finance continued investments in renewable power.
Duke Energy Generation Services, a subsidiary of Duke Energy, has secured approximately $231 million in nonrecourse credit facilities. This figure includes an 18-year term loan worth approximately $193 million, and approximately $38 million in letters of credit.
The 200 MW wind project consists of 66 1.5 MW GE wind turbines and 44 2.3 MW Siemens turbines. Top of the World achieved commercial operation in October, and all of the energy generated at the site is sold to PacifiCorp under a 20-year power purchase agreement.
The financing was arranged by Bank of Tokyo-Mitsubishi UFJ, along with BBVA, Societe Generale and Caja Madrid.
SOURCE: Duke Energy