Innergex Bags USD 534 Million for 330MW Wind Project in Wyoming
The overall construction costs of the Boswell Springs Wind Project have been revised to include financing costs relevant to the Energy Community PTC Bonus qualification and surplus construction and development costs.
July 17, 2023. By EI News Network
The financing comprises a USD 203 million 10-year non-recourse term loan with BNP Paribas, Credit-Agricole CIB, Export Development Canada and MUFG Bank, working as joint arrangers, for the construction and operation of the 329.8MW Boswell Springs wind project.
The electricity to be procured by the Boswell Springs Wind Project will be sold under a 30-year, 320MW busbar PPA signed with PacifiCorp, a Berkshire Hathaway subsidiary.
The commercial operation is scheduled to commission in Q4 2024.
Michel Letellier, President and Chief Executive Officer of Innergex, said, “We are very pleased with the terms of this financing as it demonstrates the strong market confidence in Innergex’s technical and financial abilities to develop high-quality and well-structured assets that generate attractive cash flows.”
He further stated, “In the case of Boswell Springs, we were pleased to learn that the project is eligible for the Energy Community PTC Bonus, and we decided to seize the opportunity to finance the bonus credits to substantially improve the investment economics, over and above-associated cost increases.”
The overall construction costs of the Boswell Springs Wind Project have been revised to include financing costs relevant to the Energy Community PTC Bonus qualification and surplus construction and development costs.
Overall construction costs are anticipated to amount to USD 576 million, of which USD 103 million has already been funded through Innergex’s revolving credit amenities.
please contact: contact@energetica-india.net.
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