Independent renewable energy provider Terra-Gen has closed construction financing on its 400 MW High Prairie Wind Power Facility in Missouri.
MUFG Bank Ltd. led the bank group for the $650 million construction financing, which also included Canadian Imperial Bank of Commerce, Citibank N.A., ING Capital LLC, KeyBanc Capital Markets Inc. and Mizuho Bank Ltd.
“This financing will allow us to complete the ongoing construction of the facility and help Ameren Missouri to meet its goal of delivering more renewable energy to its customers,” says Jim Pagano, CEO of Terra-Gen.
The wind farm, located in Schuyler and Adair counties in northeastern Missouri, is under construction and is expected to be completed by late Q3 2020.
Once completed, the facility will be transferred to Ameren Missouri under a build-transfer agreement, which was executed in April 2018. The project will generate enough power annually for approximately 125,000 homes, as well as provide significant economic benefits to local counties, school districts and landowners.
Terra-Gen, wholly owned by Energy Capital Partners, has approximately 1.18 GW of wind, geothermal and solar generating capacity in operation across 33 facilities throughout the U.S.