Wind Power

UPC Wind Closes Financing for Wind Turbines from Clipper

Newton, Massachusetts [] UPC Wind Partners, LLC, closed the first limited recourse loan facility in connection with Clipper Turbine Works, Inc.’s 2.5-megawatt (MW) Liberty series wind turbine generators. The $95 million turbine supply loan, underwritten by HSH Nordbank AG, New York Branch, is primarily secured by a turbine supply agreement with Clipper for 50 wind turbines and a limited parent company guarantee. UPC Wind is an independent wind power developer backed by affiliates of Madison Dearborn Partners and D.E. Shaw.