Invenergy finances Texas project
Invenergy says it has arranged project debt and tax equity financing for its 288.6MW Miami Wind Energy Center which is under construction in northern Texas.
Morgan Stanley arranged the project debt, including a construction loan and a term loan commitment. Tax equity commitments also were secured from several lenders. Financial details were not disclosed.
Miami is located in the Texas Panhandle eighty miles northeast of Amarillo. Commercial operations are scheduled to begin in the third quarter.
"We’re pleased to complete financing for Miami, our largest wind project to date and our first power generation project in the Texas Panhandle,” says Jim Murphy, chief financial officer at Invenergy.
Invenergy acquired the Miami project from Pioneer Green Energy of Austin, Texas. It will utilize 156 GE 1.85MW turbines. Balance of plant construction will be completed by RMT.