Alterra Power Corp. and Starwood Energy Group Global have announced the completion of a US$ 287 million construction loan facility for the 204MW Shannon wind project.
The facility was supplied by affiliates of Citi, Santander Bank, N.A. and the Royal Bank of Canada. The Shannon wind project is currently under construction in Clay County, Texas under an EPC contract with Mortenson Construction's Wind Energy Group. The project is expected to begin commercial operations in late 2015 or early 2016. GE is supplying 119 wind turbines (1.71MW output, 103 metres rotor diameter) for the project, and will provide operations and maintenance services for the turbines under a long-term contract. The project will sell the majority of its power under a 13-year contract with Citigroup Energy Inc.
