Pattern closes financing for 265MW California wind project

Developer Pattern Energy Group says it has closed financing for the 265MW Ocotillo Wind project under construction in California, with full commercial operation targeted for later this year.

The financing is structured as a construction loan with a seven-year commercial bank tranche co-led by Deutsche Bank and RBC Capital Markets, and a 20-year tranche funded by the North American Development Bank.

The commercial tranche financing also included The Royal Bank of Scotland, Société Générale, NORD/LB and KeyBank.

Pattern did not release the financing amount.

The project is utilizing 112 Siemens 2.37MW turbines with nacelles made in its Hutchinson, Kansas, plant and blades from a facility in Iowa. Ameron International is fabricating the towers in California. More than 30 turbines have been assembled…

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