in News Departments > Projects & Contracts
print the content item

Pattern Energy Group LP says it has closed on the financing of its Ocotillo Wind project, a 265 MW wind farm being built in California's Imperial Valley.

The financing for the project, which will utilize 112 Siemens 2.37 MW turbines, is structured as a construction loan with a seven-year commercial bank tranche co-led by Deutsche Bank and RBC Capital Markets, and a 20-year tranche funded by the North American Development Bank. The commercial tranche financing also included The Royal Bank of Scotland, Societe Generale, NORD/LB and KeyBank.

The Ocotillo Wind project is currently under construction, and most of the project will be placed into commercial operation this year, with a small portion reaching commercial operation in early 2013. Most of the road and civil work has been completed, including most of the turbine foundations, and over 30 wind turbines are assembled.

The U.S.-made Siemens wind towers, blades and nacelles continue to arrive daily, Pattern Energy says. The towers are made in California by Ameron International, while the blades are made in Iowa and the nacelles are made in Kansas.

Ocotillo Wind will be the first renewable energy project to interconnect into the newly constructed Sunrise Powerlink, a 500 kV transmission line that was developed to bring renewable power from the Imperial Valley to San Diego. Pattern Energy has a 20-year power purchase agreement with San Diego Gas and Electric for the sale of electricity produced by the project.



Helukabel_id1908
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

JLG_id1900
Acciona_id1907
UEA_id1896
WomenofWind_id
AWEA_id1886
bonfiglioli_id1913