Invenergy Wind announced that it has arranged debt and tax equity project financing for its Gunsight Wind Energy Center, which currently is under construction in Howard County, Texas. The facility will have the capacity to generate approximately 120 MW of clean power from 67 GE 1.79-MW turbines.
The New York branch of Cooperative Centrale Raiffeisen-Boerenleenbank BA (Rabobank Nederland) acted as the sole lead arranger, administrative agent, and lender for the construction financing.
Commercial operation for the Gunsight project is planned for June 2016. It will create more than 250 construction jobs and eight permanent jobs once the project begins operation.
The Texas wind farm will further benefit its host community economically through annual payments to Howard County and lease payments to participating landowners.
“We’re pleased to reach financial close of the Gunsight project and add to our growing portfolio of wind facilities in Texas,” said Jim Murphy, Chief Financial Officer and Operating Business Group President at Invenergy. “With the addition of Gunsight, Invenergy will operate more than 1,500 MW of power plants in the state.”