December 29, 2021
Invenergy Achieves Construction Financing for Number Three Wind
Project will mark Invenergy’s sixth renewable energy center to be constructed in New York State and will power nearly 40,000 homes annually once completed
Number Three Wind is the first North Country project to break ground that will be part of the generation portfolio of the Clean Path New York project
CHICAGO (December 29, 2021) – Invenergy, a leading privately-held global developer and operator of sustainable energy solutions, today announced the close of construction financing for the 104-megawatt Number Three Wind Energy Center in New York State. The project was selected as one of a handful of renewable energy projects to receive funding from the New York State Energy Research and Development Authority (NYSERDA) in 2016.
Nord/LB, Natixis and Export Development Canada acted as lead arrangers for the financing, which includes a letter of credit facility and a senior secured construction loan.
“The completion of construction financing for the Number Three Wind project is a significant milestone and a testament to the collaboration with our valued lender partners,” said Meghan Shultz, Senior Vice President, Finance and Capital Markets at Invenergy. “In addition to ensuring to each credit facility is tailored to our projects’ needs with all key stakeholders in mind, we are also furthering our commitment to helping New York State reach its goal of 100% clean energy by 2030. This milestone marks one step closer to bringing clean energy to New Yorkers while supporting hundreds of construction jobs and economic growth in Lewis County.”
Located in Lewis County, the project is currently under construction and scheduled to begin providing clean, renewable energy in late 2022. Number Three Wind is the largest North Country wind farm to begin construction in New York State since 2012.
Once completed, the project will generate more than 275,000 megawatt-hours of renewable energy annually, enough to power nearly 40,000 New York homes. The project will help build and grow New York’s clean energy workforce, supporting up to 330 quality construction jobs. Number Three Wind also brings nearly $200 million in private investment to stimulate the region’s economic growth. Number Three Wind will be the third large-scale renewables project to break ground that will be part of the renewable energy generation portfolio of the $11 billion Clean Path New York project.
We are innovators building a sustainable world. Invenergy and its affiliated companies develop, own, and operate large-scale sustainable energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland and Scotland. Invenergy has successfully developed more than 29,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, natural gas power generation facilities, and advanced energy storage projects as well as transmission infrastructure.
Since its first New York wind farm began operating in 2009, Invenergy has been helping build New York’s renewable energy future and today employs New Yorkers at its regional offices in Ithaca, Buffalo, and at five operating energy facilities. Invenergy has successfully constructed several major renewable energy projects in the state: Sheldon Wind Farm, Orangeville Wind Farm, Orangeville Storage, Marsh Hill Wind Farm, and the Shoreham Solar Commons project. These projects have contributed tens of millions of dollars to local economies, created hundreds of good-paying, local jobs and generate enough American-made, clean energy to power over 80,000 New York homes. For more information, please visit www.invenergy.com.
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Sophie Lee, Communications