Project Development, Wind Power

Terra-Gen Closes US $140M Pre-Construction Wind Financing

Terra-Gen Power LLC has closed a US $115 million initial funding of a $140 million pre-construction financing used to fund the purchase of 100 General Electric 1.5-megawatt (MW) SLE wind turbines.

The wind turbines will be deployed in the development of the 150-MW Alta Wind I wind project in the Tehachapi, California area. Alta Wind I is owned by California Highwind Power, an affiliate of Terra-Gen Power and ArcLight Capital Partners LLC.

The commitments were funded by a lender group composed of Calyon, Prudential Capital Group, and CIT. Calyon acted as Lead Arranger and Administrative Agent for the lenders, with Prudential Capital Group serving as Documentation Advisor.