November 24, 2014
Invenergy Completes Financing For 207 MW Texas Wind Project
Invenergy has arranged debt and tax equity project financing for its 207 MW Rattlesnake Wind Energy Center, which is currently under construction in Glasscock County, Texas.
Affiliates of Morgan Stanley acted as the sole lead arranger, administrative agent and lender for the debt financing transaction, which included construction and term loans. Tax equity commitments were provided by financial institutions. Details were not disclosed.
Rattlesnake is located approximately 40 miles southeast of Midland, and the project’s output will feed into Texas’ Competitive Renewable Energy Zone infrastructure. The facility will consist of 118 GE 1.7 MW wind turbines.
“We’re pleased to have reached this milestone for this important project for the region and for our company,” says Jim Murphy, chief financial officer and chief operating officer at Invenergy. “Based on established and successful working relationships between Invenergy and our financing parties, we were able to achieve a timely and efficient financial close.”
According to Invenergy, the Rattlesnake Wind Energy Center is creating more than 200 construction jobs. Blattner Energy is the project’s general contractor, and System 3 Inc. is the substation and transmission line contractor.
The wind project is slated to come online in the third quarter of 2015.