US based power generation development company Invenergy has completed the construction financing for the 999MW Traverse Wind Energy Centre in the US.
Traverse is the largest of three wind energy projects being developed by Invenergy, as part of the 1,485MW North Central Wind Energy Facilities.
The project is located in Custer, Blaine, and Kingfisher Counties.
For the financing, Santander, MUFG, Natixis, SMBC, and CIBC served as coordinating lead arrangers.
Invenergy finance and capital markets senior vice president Meghan Schultz said: “The close of construction financing for the Traverse Wind project, Invenergy’s largest wind development to date, is a significant milestone.
“This transaction, in addition to the recent Maverick and Sundance financial closings, is a testament to Invenergy’s strong lender relationships and financing capabilities as well as the compelling value of wind investments.”
The other two projects being developed by the company include the 287MW Maverick Wind Energy Centre in Major, Garfield and Kingfisher Counties, and the 199MW Sundance Wind Energy Centre in Woods and Major Counties.
Both projects have achieved financial close in December 2020, for which Rabobank, CoBank, KeyBanc, and NordLB served as lead arrangers.
Currently under construction, the three wind farms will be owned by American Electric Power (AEP), once they enter into commercial operations.
The projects will serve customers of AEP subsidiaries Southwestern Electric Power Company (SWEPCO) and Public Service Company of Oklahoma (PSO).
Traverse is anticipated to commence commercial operations in early 2022, while Maverick is expected in later this year and Sundance in spring 2021.
Once completed, the three projects are expected to generate adequate electricity to power 440,000 homes in the US.
Furthermore, the company’s subsidiary Invenergy Services will provide operations and maintenance, balance of plant, energy management, and asset management services, under a 10-year agreement.
