September 02, 2014
Invenergy clinches Colorado cash
Invenergy Wind has arranged project financing for its 60MW Spring Canyon Expansion Wind Energy Center, which is under construction in Logan County, Colorado.
The New York branch of Rabobank Nederland acted as the sole lead arranger, administrative agent, and lender for the transaction.
Spring Canyon Expansion is sited near the Town of Peetz, approximately 130 miles north-east of the City of Fort Collins. The facility is made up of two phases, Spring Canyon 2 and 3, and will feature 35 GE 1.7MW turbines.
Commercial operation is expected in the final quarter with output purchased by the Fort Collins-based Platte River Power Authority through a 25-year power purchase agreement.
“We’re delighted to reach this financing milestone as we construct our newest wind
power generation facility in Colorado,” said Invenergy chief financial officer Jim Murphy.
“Invenergy has established itself as a provider of clean energy to Colorado for almost a decade and we look forward to other opportunities in the state where we can expand our commitment to power supply diversification.”
The general contractor for Spring Canyon Expansion is Wanzek Construction of North Dakota. The project site is near Invenergy’s existing Spring Canyon facility, a 60MW wind farm in operation since 2006.
The company’s two other projects in Colorado are the 199.5MW Logan wind farm (pictured) in Peetz and the 314MW Spindle Hill natural gas-fired peaking plant in Fort Lupton.