Invenergy has completed construction financing for its 161.3 MW Pine River Wind Energy Center, located in Michigan’s Gratiot and Isabella counties.
Rabobank, Nord/LB and SMBC acted as joint lead arrangers for the construction loan. Rabobank acted as administrative agent and provided a letter of credit facility in support of the project.
Pine River is currently under construction and is scheduled to begin commercial operations before the end of this year, creating more than 200 construction jobs. With 65 turbines, the wind farm will be able to power as many as 47,000 homes, says Invenergy. Upon completion, ownership of the facility will be transferred to DTE Energy.
“We are pleased to have reached financial close for our Pine River Wind project, which will help DTE Energy supply renewable energy to Michigan homes and businesses,” says Meghan Schultz, senior vice president of structured finance at Invenergy. “Pine River is Invenergy’s third wind generation project in the state.”