ABB_id2059
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.





Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim ‘All Of The Above’ On Energy; Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015