May 03, 2018
Invenergy Completes Construction Financing for Pine River Wind Energy Center
CHICAGO, IL (May 3, 2018) – Invenergy, North America’s largest privately held renewable energy company, today announced that it has completed construction financing for its 161.3-megawatt Pine River Wind Energy Center in Gratiot and Isabella counties, Michigan.
Rabobank, Nord/LB, and SMBC acted as joint lead arrangers for the construction loan. Rabobank acted as administrative agent and provided a letter of credit facility in support of the project.
Pine River is currently under construction and scheduled to begin commercial operation before the end of 2018, creating more than 200 construction jobs. With 65 wind turbines, the wind farm will be able to power as many as 47,000 homes. Upon completion, ownership of the facility will be transferred to DTE Energy.
“We are pleased to have reached financial close for our Pine River Wind project, which will help DTE Energy supply renewable energy to Michigan homes and businesses,” said Meghan Schultz, Senior Vice President, Structured Finance at Invenergy. “Pine River is Invenergy’s third wind generation project in the state.”
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 20,000 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