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Invenergy Achieves Construction Financing for Number
Three Wind Farm
Published: December 29, 2021
at 11:00 a.m.
By: Press Release from Invenergy
Invenergy Achieves Construction Financing for Number
Three Wind
Project will mark
Invenergy’s sixth renewable energy center to be constructed in New York
State and will power nearly 40,000 homes annually once completed
Number Three Wind
is the first North Country project to break ground that will be part of the
generation portfolio of the Clean Path New York project
CHICAGO (December
29, 2021) – Invenergy, a leading privately-held global developer and
operator of sustainable energy solutions, today announced the close of construction
financing for the 104-megawatt Number Three Wind Energy Center in New
York State. The project was selected as one of a handful of renewable
energy projects to receive funding from the New York State Energy Research
and Development Authority (NYSERDA) in 2016.
Nord/LB, Natixis
and Export Development Canada acted as lead arrangers for the financing,
which includes a letter of credit facility and a senior secured
construction loan.
“The completion
of construction financing for the Number Three Wind project is a
significant milestone and a testament to the collaboration with our valued
lender partners,” said Meghan Shultz, Senior Vice President, Finance and
Capital Markets at Invenergy. “In addition to ensuring to each credit
facility is tailored to our projects’ needs with all key stakeholders in
mind, we are also furthering our commitment to helping New York State reach
its goal of 100% clean energy by 2030. This milestone marks one step closer
to bringing clean energy to New Yorkers while supporting hundreds of
construction jobs and economic growth in Lewis County.”
Located in Lewis
County, the project is currently under construction and scheduled to begin
providing clean, renewable energy in late 2022. Number Three Wind is the
largest North Country wind farm to begin construction in New York State
since 2012.
Once completed,
the project will generate more than 275,000 megawatt-hours of renewable
energy annually, enough to power nearly 40,000 New York homes. The project
will help build and grow New York’s clean energy workforce, supporting up
to 330 quality construction jobs. Number Three Wind also brings nearly $200
million in private investment to stimulate the region’s economic growth.
Number Three Wind will be the third large-scale renewables project to break
ground that will be part of the renewable energy generation portfolio of
the $11 billion Clean Path New York project.
About Invenergy
We are innovators
building a sustainable world. Invenergy and its affiliated companies develop,
own, and operate large-scale sustainable energy generation and storage
facilities in the Americas, Europe and Asia.
Invenergy's home office is located in Chicago, and
it has regional development offices in the United States, Canada, Mexico,
Spain, Japan, Poland and Scotland. Invenergy has successfully developed
more than 29,000 megawatts of projects that are in operation, construction
or contracted, including wind, solar, natural gas power generation
facilities, and advanced energy storage projects as well as transmission
infrastructure.
Since its first
New York wind farm began operating in 2009, Invenergy has been helping
build New York’s renewable energy future and today employs New Yorkers at
its regional offices in Ithaca, Buffalo, and at five operating energy
facilities. Invenergy has successfully constructed several major renewable
energy projects in the state: Sheldon Wind Farm, Orangeville Wind Farm,
Orangeville Storage, Marsh Hill Wind Farm, and the Shoreham Solar Commons
project. These projects have contributed tens of millions of dollars to
local economies, created hundreds of good-paying, local jobs and generate
enough American-made, clean energy to power over 80,000 New York
homes. For more information, please visit www.invenergy.com.
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