Santander Bank 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 II 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 73 MW of power from 41 GE 1.79 MW wind turbines when commercial operation commences in the fourth quarter of this year.
Project output will be sold to Lincoln Electric System (in Lincoln, Nebraska) under a long-term power purchase agreement (PPA).
Jim Murphy, Chief Financial Officer and Operating Business Group President at Invenergy, stated:
“With an outstanding wind resource, Nebraska has tremendous potential to become a national renewables leader, and we’re pleased to reach financial close for Invenergy’s second wind power generation project in the state.”
Prairie Breeze II is the second phase of Invenergy’s original Prairie Breeze Wind Energy Center, a 201 MW facility in Antelope and Boone Counties which began operation in 2014. Construction is underway on the project’s third phase, the Prairie Breeze III Wind Energy Center in Antelope County, which will generate approximately 36 MW of power once operational in 2016. 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.