Rabobank closes financing for wind project in Colorado

Rabobank’s New York branch will finance the 60 MW expansion projects of Invenergy's Spring Canyon Energy wind facility in Colorado USA.

Rabobank has acted as the sole lead arranger, administrative agency and lender for the financing.

The projects are located at 210 km northeast of Fort Collins near Spring Canyon Energy facility, a 60 MW project in operation since 2006. The two projects are Spring Canyon II and III. Those projects will use 35 General Electric 1.7MW wind turbines with 100-meter rotor diameter.

The projects are being developed by Invenergy. The firm has a 25-year power purchase agreement with Fort Collins-based Platte River Power Authority approved on 15 July 2014.

Jackie Sargent, Platte River General Manager and CEO, stated:

Platte River is implementing direction from the Board by increasing our wind portfolio by 400 percent. The 60 MW Spring Canyon expansion project will increase our wind energy supply to about nine percent of the power consumed annually in our four owner municipalities—Estes Park, Fort Collins, Longmont and Loveland. Including hydropower resources, the total portion of energy supplied to the municipalities from non-fossil resources will be approximately 30 percent.

Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities. The firm has developed more than 7,100 MW of clean energy projects that are in operation, in construction, or under contract, including 58 wind, solar, and natural gas power facilities.