Invenergy Wind has completed project financing for its 60 MW Spring Canyon Expansion Wind Energy Center, which is currently under construction in Logan County, Colo. Rabobank Nederland, New York Branch acted as the sole lead arranger, administrative agent and lender for the transaction.
Spring Canyon Expansion is made up of two phases – Spring Canyon II and III – and will consist of 35 GE 1.7-100 MW wind turbines. Commercial operation is expected to commence in the fourth quarter of this year, and the Platte River Power Authority will purchase the output under a 25-year agreement.
Spring Canyon Expansion is located near Invenergy's existing Spring Canyon Energy facility, a 60 MW wind farm in operation since 2006.Â Invenergy has developed two other power generation projects in Colorado: the 199.5 MW Logan Wind project in Peetz and the 314 MW Spindle Hill natural-gas-fired peaking plant in Fort Lupton.
"We're delighted to reach this financing milestone as we construct our newest wind power generation facility in Colorado," says Jim Murphy, chief financial officer and chief operating officer at Invenergy. "Invenergy has established itself as a provider of clean energy to Colorado for almost a decade, and we look forward to other opportunities in the state where we can expand our commitment to power supply diversification."