GE tuned to Oklahoma wind
First phase of Persimmon project to feature 2.5MW and 2.3MW turbines
GE is to provide turbines and tax equity for the first 200MW phase of the 365MW Persimmon wind farm in Oklahoma.
The project will comprise 73 GE 2.5MW turbines and seven 2.3MW machines, with GE Energy Financial Services providing over $190m of tax equity financing to the project.
GE Energy Financial Services also served as bookrunner, administrative agent and lender for $252m of credit facilities from CIT, MUFG and Rabobank, who were the joint lead arrangers on the transaction.
The project is 75% owned by Quinbrook Infrastructure Partners and 25% by Elawan Wind – formerly known as Gestamp Wind – which initially developed Persimmon.
The wind farm has dual interconnection agreements to the Southwest Power Pool network in Oklahoma.
The first 200MW is scheduled for completion and first generation by mid-2018.
Quinbrook and Elawan have secured long-term offtake commitments with an “investment grade counterparty to support the overall financing”.
Quinbrook senior managing director Shawn Cumberland said: “GE Renewable Energy is a proven leader in wind turbine technology, paving the way to more affordable and efficient renewable power generation.”