Alterra Power Corp has expanded its loan facility with affiliates of AMP Capital Investors by $20.6m to sponsor its equity contribution for the 200MW Flat Top wind farm in Texas.
The expansion will be secured by and supported by cash flows from Alterra’s projected 51% ownership stake in the Flat Top project.
Additional security and cash flow support for the facility also comes from Alterra’s interests in the Toba Montrose, Jimmie Creek and Dokie projects.
The project, which will consist of 100 Vestas V100 2MW machines, is expected to achieve commercial operations in the first half of 2018.
Alterra expects project financing for Flat Top to be completed in the next few weeks.
It also expects to sell down a 49% interest in the project to a sponsor-partner.
Flat Top is contracted to sell the majority of its electricity under a 13-year power hedge with an affiliate of Citi.
Image: Vestas
Alterra swells Flat Top coffers
Affiliates of AMPCapital Investors provide further $20.6m for 200MW project
By EBS