November 23 (Renewables Now) - US independent power company Leeward Renewable Energy LLC said today that it has closed construction financing and secured tax equity commitments for its 145-MW Panorama wind farm project it is currently building in the state of Colorado.
Japan’s MUFG Bank Ltd acted as coordinating lead arranger, bookrunner and administrative agent for the around USD-190-million financing (EUR 168.6m), which consists of a construction loan, tax equity bridge loan and back leverage term loan commitment.
National Australia Bank, Silicon Valley Bank and Helaba Group served as part of the lending group, and Goldman Sachs provided a USD-135-million tax equity commitment, Leeward said in today’s press release.
Panorama is a greenfield project that Leeward developed in Weld County, Colorado, the same county that is the home to the company’s Cedar Creek and Mountain Breeze wind farms. The new project will use 66 wind turbines supplied by Vestas-American Wind Technology.
The construction of Panorama, which is already under way, is expected to be finalised in the second quarter of 2022, Leeward said.
Once up and running, the Panorama wind farms will offload its output to Colorado-based Guzman Energy under a power purchase agreement (PPA).
(USD 1.0 = EUR 0.888)