The proceeds of this financing will be used to complete construction of the wind project, which utilizes GE 1.5 SLE wind turbine generators, and to repay the pre-construction financing that closed in July 2009. Alta Wind I is owned by California Highwind Power, a subsidiary of Terra-Gen.
The wind project represents the first phase in the development of the Alta Wind Energy Center, a 3,000MW initiative. The center is underpinned by a 1,550MW power purchase agreement to sell renewable energy to Southern California Edison (SCE).
Alta Wind I will be constructed by a joint venture between Wind Energy Constructors and Balfour Beatty, and will begin delivering energy to SCE in early 2011.
