Invenergy completes project financing for Prairie Breeze wind power plant in Nebraska

Invenergy Wind has completed debt and tax equity financing for the 200.6MW Prairie Breeze Wind Energy Center being builtin Nebraska.

Debt in the form of construction and term loans was arranged by Sovereign Bank, an affiliate of Banco Santander, Prudential Capital, and Rabobank, acting together as joint lead arrangers and bookrunners, while tax equity commitments was provided by affiliates of GE unit GE Energy Financial Services, Bank of America Merrill Lynch, and JP Morgan.

The project calls for the construction of 118xGE 1.7MW wind turbines on around 25,000 acres of private land in Antelope, Boone, and Madison counties with commercial operations set to begin by the end of 2013.

The project, which is likely to generate enough electricity to power around 100,000 homes, will sell the output to the Omaha Public Power District under a power purchase agreement.

Invenergy CFO Jim Murphy said that the company has completed project financing for Prairie Breeze and is working with the OPPD to bring clean energy to the state.

“We are pleased to have many of our key relationship lenders and tax equity providers committed to investing with us in this outstanding project,” added Murphy.

With around 230 skilled workers from Blattner Energy already working on the project, Prairie Breeze will further contribute to the local economical growth through tax payments; salaries paid to local, full-time operations and maintenance staff members; and annual lease payments to landowners.