July 06, 2017
Invenergy Completes Project Financing for Santa Rita Wind Energy Center
CHICAGO (July 6, 2017) – Invenergy Renewables LLC (“Invenergy”) announced today that it has arranged construction financing for its 300 megawatt Santa Rita Wind Energy Center. The project is currently under construction in Reagan, Irion, and Crockett Counties in Texas and will produce enough electricity to power approximately 122,000 homes.
Morgan Stanley & Co. LLC and its affiliates acted as Sole Lead Arranger, Administrative Agent, and Lender for the construction financing.
Santa Rita will create more than 300 construction jobs and up to 15 full-time, permanent jobs. The project will generate over $100 million in local economic development in its first 20 years of operation through tax payments, lease payments to participating landowners, and wages and benefits for employees.
Santa Rita Wind is located approximately 70 miles west of San Angelo. The facility will consist of 120 GE 2.5 MW wind turbines. Commercial operation is expected to commence in the first quarter of next year.
“We’re pleased to have reached financial close for our Santa Rita project, which is Invenergy’s largest wind project to date,” said Jim Murphy, President & Chief Operating Officer at Invenergy. “Santa Rita Wind adds to our growing portfolio in Texas, where we have developed more than two and a half gigawatts of energy generation.”
Blattner Energy Inc. is the project’s contractor for civil/mechanical scope and the transmission line, while RES System 3 is the contractor for the electrical substation.
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, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy and its affiliated companies have developed more than 15,900 megawatts of projects that are in operation, construction or advanced development, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com.
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