Invenergy names lender partners for 250-MW wind project

Wind turbines in Illinois, USA. Author: Tom. License: Creative Commons. Attribution 2.0 Generic.

January 26 (Renewables Now) - Chicago-based renewables developer and operator Invenergy has secured the needed financing and subsequently commenced construction work on a 250-MW wind farm in Illinois.

The company said in a statement on Tuesday that late last year it arranged a senior secured construction loan and letter of credit facility for the Sapphire Sky Wind Energy Center project with KeyBanc Capital Markets, CaixaBank and National Bank of Canada.

The construction process was initiated at the end of 2021 and is seen to last 12 months until December 2022. Upon completion of the plant, Milwaukee-based WEC Energy Group (NYSE:WEC) will buy a 90% stake in it, leaving a minority interest to Invenergy.

The wind park is being built at a site in McLean County, where turbines supplied by Denmark’s Vestas will be installed. Their operation and maintenance will be handled by Invenergy Services.

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