Terra-Gen lands $650m financing for 300MW at Alta Wind

Terra-Gen Power continues its record of success in financing construction of one of the largest US wind developments with a $650m deal to add 300MW at the Alta Wind Energy Center (AWEC) in California.

A syndicate of international banks are providing construction, seven-year term and bridge loans for the 168MW Alta Wind 7 and 132MW Alta Wind 9 projects, which will increase capacity at the broader AWEC to 1,320MW. The bridge loans provide financing until the projects are complete and can qualify for the 30% Treasury cash grant.

The projects at the wind-rich Tehachapi pass will use 100 Vestas V90-3.0MW wind turbines. Vestas in 2010 won its largest order for 190 V90-3.0 machines to supply the AWEC.

Last year, Terra-Gen completed a similar Log in to read complete article.

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