Leeward Renewable Energy has closed construction financing and secured tax equity commitments for its 145MW Panorama wind farm in Colorado, US.
Construction of the Panorama wind project has commenced and is expected to be completed in the second quarter of 2022.
The Panorama project is the third wind farm Leeward has developed in Weld County, in addition to its Cedar Creek and Mountain Breeze projects.
Vestas-American Wind Technology supplied the 66 wind turbines for the wind farm which has a power purchase arrangement with Guzman Energy.
MUFG Bank served as coordinating lead arranger, bookrunner and administrative agent for the approximately $190m financing.
The financing is comprised of a construction loan, tax equity bridge loan and back leverage term loan commitment. National Australia Bank, Silicon Valley Bank and Helaba Group served as part of the lending group and Goldman Sachs provided a $135 million tax equity commitment.
“We are pleased to have closed financing for the Panorama project with a number of new financial relationships led by MUFG Bank,” said Chris Loehr, Leeward chief financial officer.
“With their support, we are well-positioned to complete the construction of Panorama with the latest and most efficient technologies, bringing our total generation capacity in Weld County to 617MW and helping Colorado meet its goal of 100% green energy generation by 2040.”