The Alta Wind Energy Center (AWEC) is located in the Tehachapi-Mojave Wind Resource Area, in Kern County, California. To provide technical due diligence in support for the US$ 1.2 billion financing of four wind energy projects, Terra-Gen Power, LLC turns to GL Garrad Hassan.
The Alta Wind Energy Center is a 3,000MW wind power development initiative. Construction commenced on the initial 150MW Alta I project in March of this year and construction of the Alta II through V projects reviewed by GL Garrad Hassan (570MW) started in July following financial closing. Commercial operation of the four phases is scheduled to occur in the first half of 2011. The term financing of Alta II-V is supported by a 144a bond issuance and structured as a leveraged lease whereby Citibank, N.A. will become the lessor to Terra-Gen at the start of commercial operations. Terra-Gen will manage and operate the wind projects under long-term agreements.
The Alta Wind Energy Center is a 3,000MW wind power development initiative. Construction commenced on the initial 150MW Alta I project in March of this year and construction of the Alta II through V projects reviewed by GL Garrad Hassan (570MW) started in July following financial closing. Commercial operation of the four phases is scheduled to occur in the first half of 2011. The term financing of Alta II-V is supported by a 144a bond issuance and structured as a leveraged lease whereby Citibank, N.A. will become the lessor to Terra-Gen at the start of commercial operations. Terra-Gen will manage and operate the wind projects under long-term agreements.
