Terra-Gen Secures Funding for US Wind Projects

5 June 2011 (Last Updated June 5th, 2011 18:30)

Terra-Gen Power has secured a $631m loan to finance the development of Alta Wind VI & VIII wind projects located in California, US. Funds secured from the US Department of Treasury and other credit facilities will be used to reimburse funds previously provided by ArcLight Capital Partn

Terra-Gen Power has secured a $631m loan to finance the development of Alta Wind VI & VIII wind projects located in California, US.

Funds secured from the US Department of Treasury and other credit facilities will be used to reimburse funds previously provided by ArcLight Capital Partners and Global Infrastructure Partners.

The two wind projects of 150MW each are part of the 1,550MW Alta Wind Energy Center (AWEC) which is being developed in phases by the company.

The wind projects, along with Alta Wind I-V projects will bring the total capacity of the AWEC to 1,020MW by the end of this year.

Vestas-American Wind Technology will provide 100 V90-3.0 MW turbines for the facilities which will sell their renewable energy to Southern California Edison under a 1,550MW power purchase agreement to be managed by Terra-Gen Power.

Blattner Energy is the delivering the wind project which will be complete by the end of the year.