August 31, 2016
Invenergy Completes Project Financing for Luning Solar Energy Center
CHICAGO (September 1, 2016) – Invenergy today announced that it has arranged debt financing for its Luning Solar Energy Center (“Luning”), which currently is under construction in Luning, Nevada.
Natixis and NORD/LB New York Branch acted as joint lead arrangers for the construction financing. Natixis also acted as administrative agent and provided a letter of credit facility in support of the transaction.
After construction, Invenergy will sell the project to Liberty Utilities. Liberty Utilities provides electric service to 49,000 customers on the California side of Lake Tahoe and adjacent areas to the south and north including the cities of Markleeville, Woodfords, Topaz, Coleville, Walker, parts of Truckee and Verdi, Portola and Loyalton. Liberty Utilities also provides rate regulated electric, water, and natural gas utility services to an additional 515,000 customers in the United States.
“We’re pleased to reach financial close of the Luning solar facility and to partner with Liberty Utilities to deliver even more clean energy to the region,” said Jim Murphy, Chief Financial Officer and Operating Business Group President at Invenergy.
The Luning solar facility will have the capacity to generate approximately 50 MW of power from over 200,000 PV modules when commercial operation commences early next year. Luning to date has employed over 250 full-time workers during construction and will also require full time staffing after commercial operation.
Invenergy is delivering innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, and Europe. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 13,700 MW of projects that are in operation, construction or advanced development, including wind, solar, natural gas-fueled power generation and energy storage projects. For more information, please visit www.invenergyllc.com.
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