Invenergy closes project financing for 300-MW Santa Rita Wind Energy Center

Invenergy Renewables announced that it has arranged construction financing for its 300-MW Santa Rita Wind Energy Center. The project is currently under construction in Reagan, Irion, and Crockett Counties in Texas, and will produce enough electricity to power approximately 122,000 homes.

Wind Turbines

Santa Rita Wind is located approximately 70 miles west of San Angelo. The facility will consist of 120 GE 2.5-MW wind turbines. Commercial operation is expected to commence in the first quarter of next year.

Santa Rita will create more than 300 construction jobs and up to 15 full-time, permanent jobs. The project will generate over $100 million in local economic development in its first 20 years of operation through tax payments, lease payments to participating landowners, and wages and benefits for employees.

“We’re pleased to have reached financial close for our Santa Rita project, which is Invenergy’s largest wind project to date,” said Jim Murphy, President & Chief Operating Officer at Invenergy. “Santa Rita Wind adds to our growing portfolio in Texas, where we have developed more than two and a half gigawatts of energy generation.”

Morgan Stanley & Co. and its affiliates acted as Sole Lead Arranger, Administrative Agent, and Lender for the construction financing.

Blattner Energy Inc. is the project’s contractor for civil and mechanical scope, and the transmission line. RES System 3 is the contractor for the electrical substation.

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