The project is located in Shackelford, Texas, US considered to be the heart of the strongest wind resource and an area with strong renewable energy legislative history.
The credit facilities consist of a long-term loan of $167.8 million with a private placement of $85 million and a floating rate tranche of $82 million. The construction loan is for $134.5 million with a working capital facility of $14 million. The construction of the project is expected to require 12 months or less and commercial operations are expected to commence by the end of 2008.
Tom Murray, WestLB’s global head of energy, said: As sole bookrunner, lead arranger and administrative agent for this transaction, WestLB continues to demonstrate its diversity in the energy sector along with its creative structuring and distribution capabilities in the renewable sector.
