Pattern closes financing for 150MW Spring Valley Wind

Nevada is poised to get its first utility-scale wind project as Pattern Energy Group completes financing for its 150MW Spring Valley Wind project.

The independent developer says Siemens Financial Services, Credit Agricole Corporate and Investment Bank and Union Bank are providing a construction loan that will convert into an 18-year term loan.

“This long-term financing will allow us to complete the development and construction of Spring Valley Wind and bring Nevada’s first wind project into operation,” Pattern chief executive Mike Garland says in a statement.

He praised state and local groups for supporting the project and called out “the strong support of Senator Harry Reid” in particular. Reid, a Democrat and the Senate Majority…

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