North American Windpower: Financing Finalized For White Creek Wind Project

Financing Finalized For White Creek Wind Project

in News Departments > Projects & Contracts

by NAW Staff on Tuesday 09 January 2007

Financing is complete and construction is proceeding on the 205 MW White Creek Wind Project located in Klickitat County, Wash.

The White Creek Wind Project was initiated by Cowlitz County Public Utility District (PUD), Klickitat County PUD, Lakeview Light & Power and Tanner Electric Cooperative - all Washington state utilities that are part of the Last Mile Electric Cooperative, which promotes renewable energy.

As part of a series of transactions that recently closed, the White Creek Wind Project was sold to White Creek Wind I, an investment group which, upon completion of construction, will be composed of affiliates of Prudential Capital Group and Lehman Brothers. HSH Nordbank AG's New York branch is providing construction financing for the project, and Quincy, Mass.-based Meridian Clean Fuels arranged the equity portion of the financing.

Siemens Power Generation will supply, install and commission 89 2.3 MW wind turbines and associated towers and other equipment for the wind farm, the companies say. Turbine delivery will begin this June, and construction is scheduled to be complete by the end of 2007 or early 2008.

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