Invenergy Wind LLC announced the successful closing of construction and equity financing for its 120MW Stanton Wind Energy Center in Martin County, Texas, USA.
The debt facility was underwritten by lead arranger Dexia Credit Local and co-arranger Natixis. The equity will be provided by GE Energy Financial Services. Invenergy acquired Stanton from Wind Tex Energy, L.P., who had completed the initial development work on the project. Stanton will utilize 80 General Electric 1.5MW SLE wind turbines and construction is being managed by DH Blattner & Sons. Full commercial operation of the wind farm is scheduled for early 2008. The project interconnects with Oncor, the transmission affiliate of TXU, and all power will be sold into the ERCOT market. Energy price risk is hedged through a long-term agreement with Credit Suisse Energy. The wind farm will be owned and operated by Invenergy.