Invenergy, Enerco Close Financing For Polish Wind Farm

NAW Staff, Wednesday 04 December 2013 - 00:00:00

Chicago-based Invenergy Wind LLC and Polish renewable energy developer Enerco have completed project financing for the 24 MW Porzecze wind project, which is currently under construction in northwest Poland.

Located approximately 280 miles northwest of Warsaw, Porzecze is sited in the Village of Porzecze. Invenergy says the project features 16 GE 1.5 MW turbines and is scheduled to begin commercial operations early next year. Power produced at the project will be sold under a long-term power purchase agreement. Rabobank acted as the mandated lead arranger and administrative agent for the project financing.

“We are very pleased to work with Rabobank on expanding our portfolio of wind projects in Poland,” says Jim Murphy, chief financial officer and chief operating officer of Invenergy. “This project represents the latest milestone of almost a decade of collaboration between Invenergy and Enerco.”

The two companies also co-own eight operational wind farms in northern Poland, with a total capacity of 227.5 MW. In addition, the companies are initiating construction of a tenth Polish wind project, a 48.5 MW facility scheduled for completion in 2014.





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