Wind Capital Group has announced that it has closed on financing for the 201MW Post Rock wind energy project in central Kansas. A group of international leaders in project finance lending is providing over US$ 350 million in debt facilities to support the construction and operation of the project.
The financing consists of a US$293 million construction loan, US$63 million in term loan financing, and a US$20 million letter of credit facility. BayernLB and Rabobank acted as joint bookrunners for the construction loan, along with two other mandated lead arrangers, Nord LB and Union Bank, N.A. BayernLB and Rabobank also acted as co-bookrunners and mandated lead arrangers for the term loan and Rabobank provided the letter of credit facility. Construction at Post Rock began in 2011 with the project scheduled to come online in the second half of this year. Kansas-based electric utility Westar Energy will purchase the power generated at Post Rock under a 20-year power purchase agreement. The project will use 134 GE 1.5-82.5 wind turbines.
The financing consists of a US$293 million construction loan, US$63 million in term loan financing, and a US$20 million letter of credit facility. BayernLB and Rabobank acted as joint bookrunners for the construction loan, along with two other mandated lead arrangers, Nord LB and Union Bank, N.A. BayernLB and Rabobank also acted as co-bookrunners and mandated lead arrangers for the term loan and Rabobank provided the letter of credit facility. Construction at Post Rock began in 2011 with the project scheduled to come online in the second half of this year. Kansas-based electric utility Westar Energy will purchase the power generated at Post Rock under a 20-year power purchase agreement. The project will use 134 GE 1.5-82.5 wind turbines.
