Invenergy LLC has made a number of recent strides, including the financing of a nearly 289-MW wind project in Texas.
Its Invenergy Wind LLC subsidiary announced Dec. 24 that it has arranged project debt and tax equity financing for its 288.6 MW Miami Wind Energy Center, which is 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.
The Miami project is located in the Texas Panhandle, approximately 80 miles northeast of Amarillo in Roberts, Hemphill, Gray, and Wheeler counties. Commercial operations are scheduled to begin in the third quarter of 2014.
“We’re pleased to complete financing for Miami, our largest wind project to date and our first power generation project in the Texas Panhandle,” said Jim Murphy, Chief Financial Officer and Chief Operating Officer at Chicago-based Invenergy.
Invenergy acquired the Miami project from Pioneer Green Energy LLC of Austin, Texas. Invenergy will utilize 156 General Electric 1.85-MW turbines for the Miami project. Balance of plant construction will be completed by RMT Inc., a subsidiary of Infrastructure and Energy Alternatives LLC. System 3 Inc. will construct the project’s substation and transmission line.
In other recent project developments:
- Invenergy Clean Power LLC announced Dec. 23 the recent completion of construction and the start of commercial operations of its Lakeland Solar Farms, located about 20 miles northeast of Valdosta, Ga. Lakeland consists of two 1-MW solar photovoltaic facilities in Lanier County. Output from the plants is sold to Georgia Power under long-term power purchase agreements, awarded to Invenergy under the utility’s Medium-Scale Advanced Solar Initiative.
- Invenergy Wind announced Dec. 20 the successful refinancing of its 100.5-MW Beech Ridge Energy wind project in Greenbrier County, W.Va. Beech Ridge, which began commercial operations in 2010, features 67 GE 1.5-MW SLE wind turbines, and is operated and maintained by Invenergy Services LLC. The project’s output is sold to Appalachian Power, a subsidiary of American Electric Power (NYSE: AEP), under a long-term power purchase agreement.
- Invenergy Wind announced Dec. 17 the completion of construction, and the start of commercial operations for Phase 1 of its Des Moulins wind project in Québec, Canada. The 135.7-MW project is located about 140 miles northeast of Montreal. Featuring 59 ENERCON E-82 2.3-MW wind turbine generators, output is sold to Hydro Québec through a 20-year power supply contract. With this milestone, Invenergy now owns and operates more than 270 MW of wind projects in Quebec, said Jim Shield, Chief Development Officer of Invenergy. Invenergy’s other wind projects in Québec include the 138.6-MW Le Plateau Wind Energy Centre, located in the Gaspésie region, which came online in 2012. In addition, the 21.15-MW Le Plateau 2 community project is expected to commence operations in 2014, along with the second phase of Des Moulins, which is a 21.15-MW facility.
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. Invenergy’s home office is located in Chicago and it has regional development offices throughout the U.S., 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 facilities.