Vestas wins 148MW Oakfield in US

A First Wind wind farm in Maine.

A First Wind wind farm in Maine.

First Wind, the US-based developer, has chosen Vestas as turbine supplier for its 148MW Oakfield wind project in northern Maine, it confirmed Thursday.

First Wind divulged its turbine choice for Oakfield – 48 Vestas V112 machines – alongside the announcement that it closed financing for the project, with full commercial operation slated for late 2015.

After First Wind’s statement, Vestas published a statement of its own “regarding” an unnamed 148MW project in the US.

Vestas said it will make a formal announcement on the order once it is firm and unconditional.

The financing package for Oakfield includes a $237m construction loan and $132m of equity contribution. KeyBank served as the joint lead arranger and administrative agent on the construction loan.

“By securing financing, we will be able to continue construction activities on our sixth wind project in Maine,” says First Wind chief executive Paul Gaynor. The company has made more than $1.25bn capital investment in the state.

Andrew Redinger, managing director and head of KeyBanc Capital Markets’ Utilities, Power & Renewable Energy Group, notes the financing “demonstrates the solid fundamentals of the wind project that will provide an excellent source of renewable power”.

Four Massachusetts electric utilities are purchasing all of Oakfield’s power under a 15-year contract.

AES sells UK wind portfolio

20 August 2014 01:03 GMT

Vestas welcomes US PTC clarity

20 August 2014 11:08 GMT

Vestas boosts profits guidance

20 August 2014 07:00 GMT

UK's Ofgem reviews survey rules

20 August 2014 10:13 GMT

Four vie for UK offshore links

20 August 2014 09:25 GMT

US Wind top Maryland offshore bid

19 August 2014 04:02 GMT

3Sun gets Humber Gateway job

19 August 2014 01:48 GMT

PUP stands by Aussie RE goal

19 August 2014 11:48 GMT

Rame advances Chile wind plans

18 August 2014 10:58 GMT

'Bud Light' to power US brewery

15 August 2014 05:04 GMT

First Westermost 6MW in the water

15 August 2014 09:06 GMT

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?


Recharge Monthly Magazine