January 08, 2018
Invenergy Completes Construction Financing for Upstream Wind Energy Center
CHICAGO, IL (January 8, 2018) – Invenergy, North America’s largest privately held renewable energy company, today announced that it has completed construction financing for its 202.5megawatt Upstream Wind Energy Center in Antelope County, Nebraska.
Santander Global Corporate Banking, a division of Santander Bank, acted as sole lead arranger for the construction loan. Santander also acted as administrative agent and provided a letter of credit facility in support of the project.
Upstream Wind Energy Center is currently under construction and scheduled to begin commercial operation in the fourth quarter of 2018, creating more than 240 jobs during construction and up to 11 full-time, permanent jobs once operational. The project will generate approximately $2 million a year for the local economy through tax payments, lease payments to participating landowners, and wages and benefits for employees. With 81 wind turbines, the wind farm will be able to power as many as 68,000 homes and businesses.
“We are pleased to have reached financial close for our Upstream Wind project, which will help deliver clean, reliable energy to the state of Nebraska,” said Meghan Schultz, Senior Vice President, Structured Finance at Invenergy. “The Upstream Wind project is Invenergy’s fourth wind power generation project in the state. Santander has played an important role in financing for each of these projects.”
“By financing the Upstream Wind Energy Center, we are investing in Invenergy’s efforts to develop clean power and create jobs in the U.S.,” said Nuno Andrade, Santander’s Head of Project and Acquisition Finance for North America. “We are proud to support projects that not only benefit the environment by creating renewable energy sources, but also the larger communities where they are located.”
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 17,300 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