Invenergy has completed construction financing for its 202.5 MW Upstream Wind Energy Center in Antelope County, Neb.
Santander Global Corporate Banking, a division of Santander Bank, acted as sole lead arranger for the construction loan. Santander also acted as administrative agent and provided a letter of credit facility in support of the project.
Upstream Wind Energy Center, currently under construction, is scheduled to begin commercial operations in the fourth quarter of 2018 – creating more than 240 jobs during construction and up to 11 full-time, permanent jobs once operational, says Invenergy. The project will generate approximately $2 million per year for the local economy through tax payments, lease payments to participating landowners, and wages and benefits for employees.
Furthermore, with 81 wind turbines, the wind farm will be able to power as many as 68,000 homes and businesses, according to Invenergy.
“We are pleased to have reached financial close for our Upstream Wind project, which will help deliver clean, reliable energy to the state of Nebraska,” says Meghan Schultz, senior vice president of structured finance at Invenergy. “The Upstream Wind project is Invenergy’s fourth wind power generation project in the state. Santander has played an important role in financing for each of these projects.”