CHICAGO, IL – (November 15, 2011) – Invenergy Wind LLC (“Invenergy”) announced today the successful closing of project financing for its Bishop Hill Wind Project (“BishopHill”) that currently is under construction in Henry County, Illinois.
BayernLB, Rabobank, and Santander acted as joint book runners for the facilities, which included construction, bridge and term loans. Siemens Financial, CoBank, DekaBank,and Royal Bank of Canada also were lenders to the facility. Bayern LB serves as the Administrative Agent and Collateral Agent for the financing.
“We are very pleased to complete what represents our largest single wind project financing to date with a broad and diverse group of lenders,” said Jim Murphy, Invenergy’s Chief Financial Officer. “In the face of a dynamic and uncertain bank debt market, we were able to over-subscribe this financing. We believe our success here underscores the inherent strengths of this project.”
The 133-turbine, 200 MW project will sell all of its power and renewable energy attributes to the Tennessee Valley Authority. Bishop Hill will produce enough clean, renewable energy to power approximately 65,000 homes. Construction is scheduled for completion in mid-2012.
About Invenergy
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. Invenergy is committed to clean power alternatives and continued innovation in electricity generation. Invenergy's home office is located in Chicago and it has regional development offices throughout the United States and in Canada and Europe.
Invenergy and its affiliated companies currently have over 6,700 MW of wind, solar, and thermal projects under contract, in construction, or in operation. For more information, please visit www.invenergyllc.com. ###
Contact
Alissa Krinsky
Director of Communications, Invenergy
312-582-1554
akrinsky@invenergyllc.com