CPV Renewable Energy selected an eight-bank club to provide a debt facility to fund project costs during construction, which converts to a term financing facility upon commercial operation. The lenders include: the Bank of Tokyo-Mitsubishi, Union Bank, Key Bank, Helaba, LBBW, Natixis, ING, and Rabo Bank. GE Energy Financial Services will provide tax equity for the project. The Delaney Group will construct the project, which will consist of 66 2.3MW turbines.
The Keenan II project is expected to generate electricity to power approximately 45,000 average Oklahoma homes and avoid approximately 413,000 short tons a year in greenhouse gas emissions. The project has secured a 20-year power purchase agreement with Oklahoma Gas & Electric.
Sean Finnerty, chief and senior vice president of CPV Renewable Energy, said: “We are pleased to close financing and commence construction on the Keenan II wind farm. This is another step forward in CPV’s mission to advance clean, green energy across North America. CPV is pleased to be working with such outstanding professional partners and the good people of Oklahoma to advance America’s clean energy future. Projects like Keenan II are the tangible signs that working together, we are making great progress.
CPV Renewable Energy is advancing a portfolio of wind and photovoltaic power generation across North America.
