DE Shaw Renewable Investments and Oregon Windfarms have started construction of a 50MW wind portfolio in Baker County, Oregon.
The Huntington projects consist of five 10MW wind farms initiated by OWF.
“After nine years of development, we are grateful for the participation of a company with the capabilities and stature of DE Shaw in arranging the financing of the Huntington wind projects,” said OWF member Glenn Ikemoto.
“We look forward to working with them as the projects move forward.”
GE will supply 2MW turbines and Site Constructors Inc has been hired as the engineering, procurement and construction contractor.
Construction kicked off in late December 2015 and the projects are on track to reach commercial operations in late 2016.
Idaho Power Company has signed 20-year qualifying facility power purchase agreements with each project.
Senior debt financing for the projects was provided by KeyBank, NA and CIT Bank, NA, alongside a commitment for tax equity financing from US Bancorp Community Development Corporation, a division of US Bank.
DE Shaw is a global hedge fund with approximately $39bn in investment capital.
Image: the Condon wind farm in Oregon (Permatopia)
