Invenergy Wind LLC has arranged debt and tax equity project financing for its Prairie Breeze III Wind Energy Center, which currently is under construction in Antelope County, Nebraska (USA).
Santander Bank N.A. acted as the Sole Lead Arranger, Administrative Agent, and Lender for the construction financing. Tax equity commitments were provided by a financial institution. Details were not disclosed.
Prairie Breeze III is located near the town of Elgin, approximately 100 miles northwest of the city of Lincoln. The facility will have the capacity to generate approximately 36 MW of power from 20 GE 1.79 MW wind turbines when commercial operation commences in the first quarter of 2016. Project output will be sold to the City of Grand Island, Nebraska under a long-term power purchase agreement (PPA).
Jim Murphy, Chief Financial Officer and Operating Business Group President at Invenergy, stated:
“Nebraska has outstanding wind resources which give it the potential to become a national renewables leader. We’re pleased to reach financial close for Invenergy’s third wind power generation project in the state.”
Prairie Breeze III is the third phase of Invenergy’s Prairie Breeze Wind Energy Center. Prairie Breeze I, a 201 MW facility in Antelope and Boone Counties, began operation in 2014 and Prairie Breeze II, a 73 MW facility in Antelope and Boone Counties, is under construction and expected to commence operations later this year. All phases will bring significant economic benefit to the local community through job creation, and through tax revenue that will continue throughout the life of the projects.