Invenergy Completes Project Financing For Texas Project

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Invenergy Wind LLC has announced that it has arranged project debt and tax equity financing for its 288.6 MW Miami Wind Energy Center—currently under construction in northern Texas.

Morgan Stanley & Co. arranged the project debt, including a construction loan and a term loan commitment. Tax equity commitments also were secured from several financial institutions. Financial details were not disclosed.

Miami is located in the Texas Panhandle, approximately eighty miles northeast of Amarillo in Roberts, Hemphill, Gray, and Wheeler Counties. Commercial operations are scheduled to begin in the third quarter of this year.

Additionally, Invenergy announced the successful refinancing of its 100.5 MW Beech Ridge Energy wind project 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.