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11/16/2011 / UNITED STATES / NATURAL RESOURCES, INFRASTRUCTURE AND POWER
August 2011 - Crédit Agricole CIB plays a leading role in the financing of a wind farm in the United States
Crédit Agricole CIB structured and closed as joint lead arranger and joint bookrunner more than USD 250 million in senior credit facilities for Pattern Energy. They are due to finance construction and operation of a 151.8 MW Spring Valley wind farm, to be located in the state of Nevada.
The financing is composed of:
- a 18-year loan facility for the wind farm construction,
- a grant bridge loan facility,
- a letter of credit to support the project’s performance obligations under its Power Purchase Agreement (PPA),
- and letters of credit for debt service and Operations & Maintenance reserve requirements.
The project is fully contracted under a 20-year PPA with Nevada Energy for all its capacity and output.
Pattern Energy Group LP is an independent, fully integrated energy company that develops, constructs, owns, and operates renewable energy and transmission assets in the United States, Canada and Latin America. With offices in San Francisco, San Diego, Houston, New York, and Toronto, Pattern is strongly committed to promoting environmental stewardship and is dedicated to working closely with landowners and communities to develop and operate premier renewable energy projects.