in News Departments > New & Noteworthy
print the content item

Cape Wind and The Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU) have added France-based Natixis and Netherlands-based Rabobank to serve as lead arrangers for the 468 MW Cape Wind project, which is being developed off the coast of Massachusetts.

Natixis and Rabobank will work with BTMU to structure and arrange the syndication of the senior debt financing to additional lenders. The lead arrangers are also expected to make significant commitments, which, together with EKF, would provide more than $1 billion to Cape Wind's debt financing following approvals. In February, Cape Wind announced a $600 million loan from Danish export credit agency EKF.

"Cape Wind is a good fit for Natixis considering our prior participation in other offshore wind projects, and we believe the market is strong for additional commercial banks to participate," comments Natixis’ Olivier Delay.

Cape Wind President Jim Gordon says the developer is pleased to work with “these experienced offshore wind lenders.”

Earlier this month, Cape Wind won four legal cases in federal court that were challenging the project’s permit from the U.S. Department of the Interior. Following financial closing, the developer expects to commence commercial operations in late summer 2016.





Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Are Fitch Ratings' Claims About Wind Farm Underperformance Unfounded?

A recent report from Fitch Ratings suggests that wind farms underperform due to an overestimation of wind resources, but AWS Truepower says the analysis misses the mark.


SunEdison Buying First Wind In $2.4 Billion Deal

Global solar company SunEdison and its yeildco have announced an agreement to buy the Boston-based developer, a major player in the U.S. wind industry.


U.S., China Reach Ambitious Climate Change Accord

The agreement between the global superpowers leans heavily on the deployment of renewable energy, such as wind and solar.


What The Midterm Elections Mean For The U.S. Wind Industry

Both chambers of Congress are now under Republican control for the first time since 2006. How will wind energy fare?


GE Blade Crashes At Mehoopany Wind Farm In Pennsylvania

The turbine manufacturer says the Nov. 2 incident is "isolated and unrelated" when compared to earlier blade issues.

Hybrid Energy Innovations 2015
Renewable NRG_id1934
BG 2015DblBox_id2032