A financing package totaling $34 million has been arranged by Vert Investment Group LLC on behalf of Oregon Trail Wind Farm LLC (OTWF) for its 9 MW PaTu wind farm, located in Sherman County.
The Vert-arranged financing for PaTu includes a retained interest in the project for OTWF and involves $5.6 million in preferred equity from a group of high-net-worth individuals and a $16.5 million construction loan from an agricultural lending institution.
Long-term debt of $12 million is anticipated to be provided by an Oregon state-funding program. The deal allows OTWF to exercise a call option at the end of the fifth year to retain full ownership of the project.
SOURCE: Vert Investment Group LLC
