NaturEner Closes On Construction Financing Tax-Equity Facility For Montana Wind Project

NAW Staff, Thursday 30 July 2009 - 11:32:58

San Francisco-based NaturEner USA LLC has closed on a $117.5 million construction loan and a $120 million tax-equity facility arranged by Morgan Stanley for NaturEner's Glacier II wind farm outside Ethridge, Mont.

Glacier II is expected to supply 103.5 MW of wind energy at full production, employing a total of 69 1.5 MW wind turbines. The wind farm, which is expected to be in service in October, is adjacent to NaturEner's existing Glacier I wind farm.

New York-based Capstar Partners acted as the exclusive financial adviser to NaturEner on the placement of the tax equity. Chadbourne & Parke LLP acted as legal advisor to NaturEner. Dewey & LeBoeuf LLP acted as legal advisor to Morgan Stanley.

NaturEner is developing additional wind energy facilities representing approximately 1,800 MW of aggregate nameplate capacity in Montana and the western U.S., as well as in Alberta, Canada, via its affiliate, NaturEner Energy Canada Inc.

SOURCE: NaturEner USA LLC


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