Invenergy finances 94MW project
Developer Invenergy has closed construction financing for its 94MW Orangeville Wind Farm that will power more than 38,000 homes to be located south of Buffalo in western New York State.
Rabobank acted as the lead arranger and administrative agent, and Union Bank acted as the syndication agent and joint lead arranger for the transaction, which consisted of a construction loan and letter of credit.
The facility, now under construction, will feature 58 General Electric 1.6-100 MW wind turbines.
“Invenergy is pleased to have completed this financing for our second wind project in New York State," says Jim Murphy, chief operating officer of Invenergy. “We appreciate the confidence shown by our financial partners in the quality of our projects.”
Invenergy also owns the nearby 112.5MW Sheldon Wind Farm, which began full commercial operations in 2009.