Invenergy banks Nebraska wind
Construction finance secured for 202.5MW Upstream project
Invenergy has completed construction financing for its 202.5MW Upstream wind energy center in Antelope County, Nebraska.
Santander Global Corporate Banking acted as sole lead arranger for the construction loan, as well as administrative agent.
It also provided a letter of credit facility in support of the 81-turbine project, which is currently under construction.
The wind farm is scheduled to start commercial operation in the fourth quarter of 2018.
It will create more than 240 jobs during construction and up to 11 full-time roles once operational.
Upstream will generate approximately $2m a year for the local economy through tax payments, lease payments to participating landowners and wages and benefits for employees.
Invenergy structured finance senior vice president Meghan Schultz said: “The Upstream wind project is Invenergy’s fourth wind power generation project in the state. Santander has played an important role in financing for each of these projects.”