CohnReznick Capital Markets Securities announced its engagement with Capital Power, a power producer headquartered in Edmonton, Alberta, to launch the tax-equity raise for the company’s 178-MW Bloom Wind project in Ford and Clark counties, Kansas.
“We are thrilled to work with Capital Power on Bloom Wind as their exclusive advisor. There is already a tremendous amount of interest from a diverse set of investors,” said Nick Knapp, Managing Director at CohnReznick Capital Markets Securities.
He added: “To be involved in the second project using the Proxy Revenue Swap is truly exciting and at the forefront of the industry. This product is proving to be very beneficial to the market and well received by the tax equity and lender universe.”
Capital Power recently announced its participation in a groundbreaking 10-year hedge product, which protects wind projects’ revenues against the variability of intermittent wind resources, thereby mitigating a key source of risk to tax equity investors.
The Bloom Wind project is expected to begin construction in the third quarter of 2016 and start commercial operation in the third quarter of 2017.
Filed Under: Financing, News, Projects