Banks back sPower's initial push into larger-scale US wind

Renewables player sPower’s larger-scale wind ambitions in the US won a vote of confidence from high-profile lenders who agreed to provide debt financing and tax equity for the 218MW Prevailing Wind Park in the state of South Dakota.

CIBC and HSBC will provide a $319m construction/term facility and this will be backed by a $189m tax equity commitment from Bank of America Merrill Lynch.