The funding will help First Wind to continue on schedule with construction of the renewable energy facility.
The power project, which is owned by the company’s subsidiary Palouse Wind, is expected to generate enough clean energy to power about 30,000 Northwest homes, equal to the total energy load of all of Whitman County.
As part of the financing, Palouse Wind closed around $170m construction and term facility loan, and letters of credit of up to $40m.
KeyBank National Association served as the joint lead arranger and administrative agent, and Nordduetsche Landesbank Girozentrale, CoBank ACB, and Banco Santander served as joint lead arrangers.
The project will feature 58 Vestas 1.8MW wind turbines with a generating capacity of about 105MW of electricity.
The energy from the Palouse wind project will power local homes and businesses through a power purchase agreement with Avista.
The general contractor on the project, RMT, began construction in October 2011.
The project is expected to be online and operational sometime before the end of this year.
