Milbank, Tweed, Hadley & McCloy has represented Morgan Stanley in providing debt financing for the construction of a new wind farm near Amarillo, Texas, USA.
The 182MW Panhandle 2 Project is being acquired by Pattern Energy Group. The facility is expected to connect to Texas's main power grid when it goes live later this year. Morgan Stanley is providing a construction loan as well as an equity bridge loan and a letter of credit. Pattern Energy is acquiring the facility along with three institutional investor tax equity partners.
