June 28, 2017
Invenergy Hosts Ribbon-Cutting Ceremony at Corriegarth Wind Energy Center in Scotland
CHICAGO (June 28, 2017) – Leading clean energy company Invenergy on Tuesday held a ribbon-cutting ceremony at Corriegarth Wind Energy Center (“Corriegarth”), located in Scotland approximately 31 kilometers southwest of Inverness.
Financing for Corriegarth was completed in October 2015 and the Bank of Tokyo-Mitsubishi UFJ, LTD and Norddeutsche Landesbank Girozentrale, London Branch acted as the Mandated Lead Arrangers for the transaction which included a Term Facility and a VAT Facility. The project achieved commercial operations under the power purchase agreement in May of 2017. Corriegarth achieved Renewable Obligation Certificates accreditation in September 2016 and has entered into a 15-year power purchase agreement with a leading U.K. utility.
The 69.5 megawatt Corriegarth Wind Energy Center features 23 Enercon E-82 3.0 megawatt wind turbines. Enercon is operating the windfarm under a long-term service and turbine maintenance agreement, with project management and engineering support to be provided by Wind Prospect Operations. Nevis Environmental will be responsible for the environmental management of the site.
“This is the second wind farm we have developed in Scotland, and we are excited to officially celebrate the start of operations today,” said Invenergy’s EVP and Chief Commercial Officer Jim Shield. “Scotland has tremendous wind resources, and we are pleased to provide clean energy and local economic benefits to the region.”
The Corriegarth project will further benefit its host community through an annual contribution of charitable funds to the Stratherrick and Foyers Community Trust.
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 and Europe.
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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