Invenergy is lining up a $400 million construction finance deal for a 200 MW+ portfolio of wind farms, according to Power Finance & Risk, a CIN sister publication. The deal will be led by Dexia Crédit Local, which ran an earlier $120 million loan that funded the acquisition of turbines for the development, about three weeks ago. Officials at the bank declined comment. Pricing on the turbine loan or this second phase of debt could not be ascertained. Calls to Kevin Smith, a senior v.p. at the Chicago-based wind developer, were not returned.
Bankers said the debt package is similar to a $390 million wind financing completed last year. The specific assets to be included in this iteration still need to be worked out, but the projects are expected to be contracted, said bankers, declining to identify offtakers.
Last year, financing backed the construction of the 135 MW Judith Gap wind farm in Judith Gap, Colo., the 60 MW Spring Canyon farm near Peetz, Colo., and the 64.5 MW Wolverine Creek facility in Idaho Falls, Idaho. All three projects have been completed.