December 19, 2013
Invenergy Completes Refinancing For Beech Ridge Energy Wind Project in West Virginia
CHICAGO, IL – (December 20, 2013) – Invenergy Wind LLC (“Invenergy”) announced today the successful refinancing of its 100.5 MW Beech Ridge Energy wind project (“Beech Ridge”) in Greenbrier County, West Virginia. CoBank, ACB acted as the Mandated Lead Arranger and Administrative Agent for the transaction.
Beech Ridge, which began commercial operations in 2010, is located approximately sixty miles southeast of the City of Charleston. The facility features 67 GE 1.5 MW SLE wind turbines, and is operated and maintained by Invenergy Services LLC, an affiliate of Invenergy. The project’s output is sold to Appalachian Power Co., a subsidiary of American Electric Power, under a long-term power purchase agreement.
“Beech Ridge represents the latest financing in a ten-year banking relationship between CoBank and Invenergy. We appreciate CoBank’s long-term support of our business,” said Jim Murphy, Chief Financial Officer and Chief Operating Officer of Invenergy. “This transaction is a vote of confidence in our asset management capabilities, with Invenergy’s operating wind power generation portfolio now totaling approximately 3,000 MW.”
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. Invenergy is committed to clean power alternatives and continued innovation in electricity generation. Invenergy's home office is located in Chicago and it has regional development offices throughout the United States and in Canada and Europe.
Invenergy and its affiliated companies have developed approximately 8,000 MW of clean energy projects that are in operation, in construction, or under contract, including 63 wind, solar, and natural gas power facilities. For more information, please visit www.invenergyllc.com.
Contact: Alissa Krinsky Director of Communications 312-582-1554 firstname.lastname@example.org