February 12, 2018
Invenergy Closes Refinancing for Gratiot County Wind Project
CHICAGO, IL (Feb. 12, 2018) – Invenergy, North America’s largest privately held renewable energy company, today announced the successful refinancing of the 110.4-megawatt Gratiot County Wind Project located near Breckenridge, Michigan.
Invenergy owns the majority interest and is the managing member of Gratiot County Wind. The facility is operated and maintained by Invenergy Services LLC.
Natixis, Norddeutsche Landesbank, Zions Bancorporation, and Siemens Financial Services served as Joint Lead Arrangers for the transaction, with Natixis acting as the Administrative Agent, Collateral Agent, and LC Issuing Bank.
“We are pleased to complete this refinancing with a combination of both existing and new lenders to the Gratiot project,” said Steve Ryder, Chief Financial Officer at Invenergy. “Their support underscores the confidence of sophisticated financial institutions in our operating and asset management capabilities and the strength of the project’s fundamentals.”
Gratiot County Wind has been in operation since 2012 and consists of 69 1.6-megawatt GE Energy wind turbines. The project output is sold directly to DTE Energy under a 20-year power purchase agreement expiring in 2032.
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas and Europe. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 17,500 megawatts of projects that are in operation, construction or contracted, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com.
Contact: Donya Mansoubi, Senior Associate, Communications
312-582-1036 or DMansoubi@invenergyllc.com