Pattern Energy arranges finance for wind project in the US

30 August 2011 (Last Updated August 30th, 2011 18:30)

Pattern Energy has arranged finance for the construction of the 150MW Spring Valley Wind in Nevada, US. Siemens Financial Services, Credit Agricole Corporate and Investment Bank, and Union Bank have provided a construction loan for an 18-year term. Upon completion, the 1,000

Pattern Energy has arranged finance for the construction of the 150MW Spring Valley Wind in Nevada, US.

Siemens Financial Services, Credit Agricole Corporate and Investment Bank, and Union Bank have provided a construction loan for an 18-year term.

Upon completion, the 1,000MW project, which will use 66 Siemens 2.3MW wind turbines, will produce clean energy sufficient to power 45,000 homes in the region.

The project, which will connect to an existing 230 kilovolt transmission line, is expected to generate more than $20m in tax revenue for White Pine County and the state of Nevada's Renewable Energy Fund over the next two decades.

Mortenson Construction has begun construction at the project scheduled to be complete in a year's time.