CHICAGO, IL (May 23, 2014) – Invenergy Wind LLC (“Invenergy”) announced today that ithas arranged project financing for its 16 MW Marsh Hill Wind Energy Center (“Marsh Hill”),which currently is under construction in New York State.
Rabobank acted as the Sole Lead Arranger, Administrative Agent, and Collateral Agent forthe transaction. Tax equity commitments also were completed in connection with thisproject.
Marsh Hill is located in the Town of Jasper in Steuben County, approximately 85 milessouth of the City of Rochester. The facility will consist of ten GE 1.6-103 MW windturbines and is expected to begin commercial operation in the fourth quarter of 2014.
Through a competitive process, the New York State Energy Research and DevelopmentAuthority (“NYSERDA”) awarded a contract to Marsh Hill to produce and deliver renewableelectricity to New York. NYSERDA has committed to purchase the RPS attributes (orrenewable energy credits) generated with each megawatt-hour produced from the windfarm for ten years. Electricity produced by Marsh Hill will be sold into the wholesalemarkets managed by the New York Independent System Operator (“NYISO”).
“We’re pleased to complete the project financing for our third wind power generationproject in New York,” said Jim Murphy, Chief Financial Officer and Chief Operating Officerat Invenergy. “The Marsh Hill transaction represents the latest wind project financing in arobust banking relationship between Rabobank and Invenergy. We appreciate Rabobank’slong-term support of our renewable energy business.”
The project’s general contractor is Tetra Tech Construction of Gloversville, New York.Rochester-based O’Connell Electric is building the facility’s substation.
Invenergy’s two other New York wind power generation facilities both are located inWyoming County. The 112.5 MW Sheldon Wind Farm began operation in 2009, and the94 MW Orangeville Wind Farm became operational earlier this year.
About Invenergy
Invenergy and its affiliated companies develop, own and operate large-scale renewableand other clean energy generation facilities in North America and Europe. Invenergy iscommitted to clean power alternatives and continued innovation in electricity generation.Invenergy's home office is located in Chicago and it has regional development offices inthe United States, Canada, Mexico, Japan, and Europe.
Invenergy and its affiliated companies have developed more than 8,000 MW of cleanenergy projects that are in operation, in construction, or under contract, including 65 wind,solar, and natural gas power facilities. For more information, please visitwww.invenergyllc.com.
Contact: Alissa Krinsky, Director of Communications312-582-1554 or akrinsky@invenergyllc.com