Texas Wind Farm Named ‘Deal of the Year’

May 6, 2003 [SolarAccess.com] The Desert Sky wind-power project was recently honored by Project Finance magazine as “North America Renewables Deal of the Year 2002.” According to sponsor American Electric Power, the West Texas wind farm can produce enough power for as many as 54,000 average American homes, using 107, 1.5 MW turbines spread over a 15-square mile area. City Public Service of San Antonio, one of the nation’s largest publicly owned energy systems, purchases all power produced by the project. Financing for the US$178.3 million, 160.5 MW wind farm was arranged by Fortis Capital Corp. with the help of co-arrangers Dexia Credit Local, Rabobank International and Royal Bank of Canada. Participating banks included ANZ Investment Bank and Landesbank Baden-Wurttemburg. Jones Day, led by New York partner Mark Haddad, was counsel to AEP. Milbank Tweed Hadley & McCloy advised the lenders.
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