BTMU is providing a “significant amount of debt capital” toward commercial bank financing for Cape Wind, which it will use to pay for project development and construction costs, Cape Wind says in a statement. It did not provide details.
A term sheet is a non-binding agreement detailing the basic terms and conditions under which an investment will be made.
"We have been impressed with Cape Wind's dedication and perseverance in moving this clean energy project through the regulatory and development process, and are glad to be able to assist this financing," says Takaki Sakai, project finance director of BTMU.
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