CPV completes financing the Cimarron Wind Energy Project in Kansas
The company began construction of the renewable energy facility in early December 2011 and expects that the Cimarron project will achieve commercial operation in November 2012
Braintree, Mass., January 10, 2012 — CPV Renewable Energy Co. announced that it closed financing for the construction of its 165.6 MW Cimarron Wind Energy Project in Gray County, Kansas.
The company began construction of the renewable energy facility in early December 2011 and expects that the Cimarron project will achieve commercial operation in November 2012.
The project's 72 Siemens 2.3 MW wind turbines will supply Tennessee Valley Authority customers with renewable energy under a 20-year power purchase agreement. CPV Renewable Energy was awarded the power purchase agreement as part of TVA's 2009 Request for Proposals for renewable generation.
The project is managed by a CPV affiliate, is being constructed by Wanzak Construction, a MasTec Co., and will be operated by North American Energy Services.
Coordinating Lead Arrangers Bank of Tokyo Mitsubishi UFJ and Union Bank of California were joined by Mandated Lead Arrangers Helaba, Siemens Financial Services and Lloyds in providing $262.8 million of senior credit facilities.