Invenergy Wind has announced that it has arranged project debt and tax equity financing for its 288.6 MW Miami Wind Energy Center, which currently is under construction in northern Texas.
Morgan Stanley & Co. arranged the project debt, including a construction loan and a term loan commitment. Tax equity commitments also were secured from several financial institutions. Financial details were not disclosed. Miami is located in the “Texas Panhandle”, approximately eighty miles northeast of Amarillo in Roberts, Hemphill, Gray, and Wheeler Counties. Commercial operations are scheduled to begin in the third quarter of 2014. Invenergy acquired the Miami project from Pioneer Green Energy LLC of Austin, Texas. Invenergy will utilize 156 GE 1.85 MW turbines for the Miami project.
