CHICAGO (Oct. 7, 2015) – Invenergy Wind LLC (“Invenergy”) announced today that it has arrangedproject financing for its 69 MW Corriegarth Wind Energy Center (“Corriegarth”), which is currentlyunder construction in Scotland approximately 31 kilometers southwest of Inverness.
The Mitsubishi UFJ Financial Group and Norddeutsche Landesbank Girozentrale, London Branchacted as the Mandated Lead Arrangers for the financing transaction, which included a Term Facilityand a VAT Facility.
Corriegarth will consist of 23 Enercon E-82 E4 wind turbines. Commercial operation is expected tocommence at the end of 2016. Energy and Renewable Obligation Certificates will be purchasedunder a 15-year Power Purchase Agreement.
“We’re pleased to have reached this milestone for this important project, which represents our firstproject financing in Scotland,” said Jim Murphy, Chief Financial Officer and Operating GroupPresident at Invenergy. “Based on established and successful working relationships betweenInvenergy and our financing parties, we were able to achieve an efficient financial close amidstchanges to the renewable energy framework in the United Kingdom.”
RJ McLeod is the project’s civil works construction contractor, and Powersystems UK is the project’selectrical works contractor. Wind Prospect is providing project management and engineeringsupport. Nevis Environmental is providing environmental management of the site. The developmentof Corriegarth is creating more than 100 local construction jobs.
The wind farm will further benefit its host community economically through an annual contribution of£138,000 to the Stratherrick and Foyers Community Trust that will be used solely for charitablepurposes.
About Invenergy
Invenergy and its affiliated companies develop, own, and operate large-scale renewable and otherclean energy generation and storage facilities in North America and Europe. Invenergy is committedto continued innovation in clean power solutions. Invenergy's home office is located in Chicago andit has regional development offices in the United States, Canada, Mexico, Japan, and Europe.
Invenergy and its affiliated companies have developed more than 9,100 MW of projects that are inoperation, in construction, or under contract, including 76 wind, solar, and natural gas-fueled powergeneration projects and energy storage facilities. For more information, please visitwww.invenergyllc.com.
Contact: Mary Ryan, Senior Manager, Public Relations312-582-1424 or mryan@invenergyllc.com