Invenergy Wind LLC has arranged construction financing for its 257 MW Wake Wind Energy Center, which currently is under construction in Dickens, Crosby and Floyd Counties in Texas.
Morgan Stanley & Co. LLC and its affiliates acted as Sole Lead Arranger, Administrative Agent, and Lender for the construction financing.
Wake Wind is located approximately 10 miles northeast of the city of Crosbyton, 50 miles east of Lubbock. The facility will consist of 150 GE 1.715 MW wind turbines. Commercial operation is expected to commence in the third quarter of this year.
Jim Murphy, Chief Financial Officer and Chief Operating Officer at Invenergy, commented:
“We’re pleased to have reached financial close for our Wake Wind project in Texas, the nation’s top state for installed wind. Wake Wind adds to our growing portfolio in Texas, bringing our total wind generation to nearly 2,000 MW in the state.”
Blattner Energy Inc. is the project’s contractor for civil/mechanical scope and the transmission line, while EPC Services is the contractor for the electrical substation. Wake Wind is creating over 200 construction jobs and a dozen permanent jobs once the project begins operation.
The wind farm will further benefit its host community economically through annual payments to each of the Counties and lease payments to participating landowners.