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Terra-Gen Power Announces Closing of $650 Million Construction Financing for Alta Wind VII & IX to Continue Build-Out of Nation's Largest Wind Energy Facility
Kunne dette ikke godt ligne en ny stor ordre til Vestas
4/17/2012
NEW YORK, NY -- Terra-Gen Power, LLC ("Terra-Gen"), an affiliate of ArcLight Capital Partners and Global Infrastructure Partners, announced today that it has closed a $650 million financing for the 168 megawatt ("MW") Alta Wind VII and 132 MW Alta Wind IX projects. The completion of the Alta Wind VII & IX projects will bring the total capacity of the Alta Wind Energy Center ("AWEC") located in Tehachapi, CA to 1,320 MW, of which 1,020 MW are currently in operation. The American Wind Energy Association's recent market report for 2011 identified AWEC as the nation's largest wind farm. Terra-Gen recently sold the Alta Wind VIII (150 MW) phase to Brookfield and has entered into an agreement to sell the Alta Wind VI phase (150 MW) to Everpower.
The Alta VII and IX financings include construction and seven-year term loans, bridge loans to the ITC cash grants from the US Department of Treasury, and ancillary credit facilities. The proceeds of this financing will be used to reimburse funds previously advanced by ArcLight Capital Partners and Global Infrastructure Partners for development of the projects, as well as to fund the balance of the projects' construction costs. Together the projects will utilize 100 V90-3.0 MW turbines manufactured by Vestas-American Wind Technology, Inc.
Mitsubishi-UFJ Financial Group affiliate Union Bank and RBS Securities acted as Co-Bookrunners for the financing, while Bank of Montreal, Canadian Imperial Bank of Commerce, Key Bank, KfW IPEX Bank, and Santander acted as Joint Lead Arrangers. In addition, the lender group also included Sumitomo, BayernLB, DZ Bank, and Associated Bank. The syndication of the facilities received significant interest from a broad range of commercial lenders and was oversubscribed.
"We are excited to continue to build upon important existing lender relationships while at the same time broadening Terra-Gen's bank group with this financing," said Jim Pagano, CEO of Terra-Gen. "With this financing we continue the ambitious build-out of the nation's largest wind energy center. We are proud of the economic and job growth that AWEC is delivering, and of our contribution in helping the state of California meet its renewable energy goals."
Alta Wind VII & IX, like all earlier phases of the Alta Wind Energy Center, will sell their renewable energy to Southern California Edison ("SCE") under separate power purchase agreements carved out from a 1,550 MW master power purchase agreement, and will be managed, operated and controlled by Terra-Gen Power. The projects will each interconnect to and utilize SCE's Tehachapi Renewable Transmission Project. Blattner Energy, Inc. is leading the construction of the projects which are expected to be complete by in the 4th quarter of 2012.
Kunne dette ikke godt ligne en ny stor ordre til Vestas
4/17/2012
NEW YORK, NY -- Terra-Gen Power, LLC ("Terra-Gen"), an affiliate of ArcLight Capital Partners and Global Infrastructure Partners, announced today that it has closed a $650 million financing for the 168 megawatt ("MW") Alta Wind VII and 132 MW Alta Wind IX projects. The completion of the Alta Wind VII & IX projects will bring the total capacity of the Alta Wind Energy Center ("AWEC") located in Tehachapi, CA to 1,320 MW, of which 1,020 MW are currently in operation. The American Wind Energy Association's recent market report for 2011 identified AWEC as the nation's largest wind farm. Terra-Gen recently sold the Alta Wind VIII (150 MW) phase to Brookfield and has entered into an agreement to sell the Alta Wind VI phase (150 MW) to Everpower.
The Alta VII and IX financings include construction and seven-year term loans, bridge loans to the ITC cash grants from the US Department of Treasury, and ancillary credit facilities. The proceeds of this financing will be used to reimburse funds previously advanced by ArcLight Capital Partners and Global Infrastructure Partners for development of the projects, as well as to fund the balance of the projects' construction costs. Together the projects will utilize 100 V90-3.0 MW turbines manufactured by Vestas-American Wind Technology, Inc.
Mitsubishi-UFJ Financial Group affiliate Union Bank and RBS Securities acted as Co-Bookrunners for the financing, while Bank of Montreal, Canadian Imperial Bank of Commerce, Key Bank, KfW IPEX Bank, and Santander acted as Joint Lead Arrangers. In addition, the lender group also included Sumitomo, BayernLB, DZ Bank, and Associated Bank. The syndication of the facilities received significant interest from a broad range of commercial lenders and was oversubscribed.
"We are excited to continue to build upon important existing lender relationships while at the same time broadening Terra-Gen's bank group with this financing," said Jim Pagano, CEO of Terra-Gen. "With this financing we continue the ambitious build-out of the nation's largest wind energy center. We are proud of the economic and job growth that AWEC is delivering, and of our contribution in helping the state of California meet its renewable energy goals."
Alta Wind VII & IX, like all earlier phases of the Alta Wind Energy Center, will sell their renewable energy to Southern California Edison ("SCE") under separate power purchase agreements carved out from a 1,550 MW master power purchase agreement, and will be managed, operated and controlled by Terra-Gen Power. The projects will each interconnect to and utilize SCE's Tehachapi Renewable Transmission Project. Blattner Energy, Inc. is leading the construction of the projects which are expected to be complete by in the 4th quarter of 2012.
22/4 2012 07:53 cykling 055896 Jo men ingen nyhed
http://www.rechargenews.com/energy/wind/article311174.ece
http://www.rechargenews.com/energy/wind/article311174.ece
22/4 2012 14:01 cykling 055900 Næste uge i Wien bliver data / tilsand for Verdens gletsjere fremlagt.Ubalancen er langt større end hidtil antaget.Hovedsynderen er CO2 udslippet.Dette kan skubbe til de nødvendige politiske beslutninger om prisen på CO2 og der med gavne branchen for alternativ energi.
http://jp.dk/opinion/kronik/article2736664.ecean tiv
http://jp.dk/opinion/kronik/article2736664.ecean tiv
22/4 2012 14:36 cykling 055902 Kan desværre ikke få linket til og virke.Men på Wind messen i bella centret i denne uge blev det fremhævet af de store spillere i Alternativ energi at en højere pris på CO2 var det der skulle til for sætte gang i udviklingen COE.Fra politisk side var man enige, men manglede desværre opbakning.Så mere fokus på emnet er til gavn for industrien.
22/4 2012 19:49 cykling 055909 Repowers CEO fratræder salg til Alstom
http://mmb.moneycontrol.com/india/messageboardblog/message_thread/10361906/12199861
http://mmb.moneycontrol.com/india/messageboardblog/message_thread/10361906/12199861
22/4 2012 20:46 Henrikvj 055913 Det er deres CFO, jeg forstår desværre ikke helt artiklen da mit tyske er lidt rustent :)
22/4 2012 21:29 cykling 055920 Jeg læser det som om at CFO er fratrådt pga uoverensstemmelser om strategien og Alstom har lukket sine sonderinger,Og at det efterlader sulzon presset pga snarlig indfrielse af lån
22/4 2012 21:51 cykling 055922 Hvis det bliver bekræftet i Morgen.Så vil de nok begynde og skrive om bud krig på Vestas mellem Alstom og sinovel.
http://borsen.dk/nyheder/investor/artikel/1/228167/finanshus_repower_bedre_for_alstom_end_vestas.html
http://borsen.dk/nyheder/investor/artikel/1/228167/finanshus_repower_bedre_for_alstom_end_vestas.html
23/4 2012 19:58 Henrikvj 055944 Hmm Windpowermonthly skriver noget andet i dag:
A statement on Repower's website said Noe had resigned from Repower's executive board of directors "by way of an amicable mutual agreement due to different views on the company's future business strategy".
Noe's resignation comes amid reports that parent company Suzlon is planning to sell Repower to Alstom for €1.5 billion and also follows the sacking of Suzlon's own CFO Robin Banerjee in March.
A statement on Repower's website said Noe had resigned from Repower's executive board of directors "by way of an amicable mutual agreement due to different views on the company's future business strategy".
Noe's resignation comes amid reports that parent company Suzlon is planning to sell Repower to Alstom for €1.5 billion and also follows the sacking of Suzlon's own CFO Robin Banerjee in March.
23/4 2012 20:35 cykling 055946 Ja det er hvad de skriver, så må vi se.Jeg tænker lidt at da Alstom benægtede interessen da var man ikke sikker på at få del i offshore i Frankrig.Siden har det så vist sig at man har vundet retten til og opføre 1500MW Offshore, det ændre måske politikken lidt.Og gå ind i så stort et projekt med den risiko det indebære uden den fornødne erfaring lyder forkert.Tænker ligeledes over at der skrives at der politisk skal snakkes om hvor vidt Offshore på flydende platform er noget der skal stimuleres.Og at England og USA vil ind gå samarbejde om dette.Et stort problem er for mig at se at enkelte lande skal tage omkostningen for udvikling af en energiform som de fleste ønsker, men hvorfor betale for børnesygdomme når man kan få andre til det.Så jeg tror måske at man overvejer og løfte opgaven op på højere plan og dele så vel investering som udkomme.
23/4 2012 20:58 cykling 055948 Jeg undrer mig også over beløbet.Er 11 milliarder kroner for Repower ikke et stort beløb.Når mange syntes at 40 milliarder for vestas er dybt godnat ?
23/4 2012 21:09 Henrikvj 055949 Jo, hvis Repower bliver solgt til 11mia må 40-50mia være en fair pris for vestas.
Så det bliver spændende at se hvad der sker, men vil alstom reelt betale 11mia for repower forstår jeg ikke man ikke køber stille og roligt op i vws og måske sikrer sig 51% for 10-12mia
Så det bliver spændende at se hvad der sker, men vil alstom reelt betale 11mia for repower forstår jeg ikke man ikke køber stille og roligt op i vws og måske sikrer sig 51% for 10-12mia
23/4 2012 21:24 cykling 055951 Windpowermonthly betragtes som seriøst og hvis ellers 1.5 billon Euro er 11 milliarder kroner.Så vil et sådant salg vel få den nuværende værdi ansættelse af Vestas til og virke lidt urealistisk.
24/4 2012 09:58 cykling 055956 Hvis man leder efter en investering hvor afsætnings mulighederne ser lyse ud og branchen samtidig er bund.Så er vestas et godt bud.
http://www.businessgreen.com/bg/news/2169663/pwc-utilities-struggling-cope-80-cent-rise-energy-demand
http://www.businessgreen.com/bg/news/2169663/pwc-utilities-struggling-cope-80-cent-rise-energy-demand
24/4 2012 20:16 cykling 055976 Jeg kan læse rundt omkring at man frygter at Vind energi rammes af kinesisk konkurrence som sol er blevet det.Det kan bare ikke lade sig gøre.Man kan ikke komprimere vindmøller ind i en 40 fods container og sende den relativt billigt rundt i verden.Vindmølle produktion kræver hvis den skal være konkurrence dygtig regional produktion.I samme øjeblik at kineserne etablere sig regionalt er de ramt af de samme omkostninger som alle andre og vil aldrig blive en trussel med markante fordele.
24/4 2012 20:20 troldmanden 055977 Det er ikke helt rigtigt. Kineserne vælger også nogle billigere designløsninger så selvom den er bygget i EU vil den være billigre end en Vestas mølle.
Og vi vil se nogle kunder satse på den billige model mens andre vil satse på den mere gennemprøvede model med mere fokus på kvalitet og COE.
Men kineserne skal nok stille og roligt få en større andel udenfor Kina
Og vi vil se nogle kunder satse på den billige model mens andre vil satse på den mere gennemprøvede model med mere fokus på kvalitet og COE.
Men kineserne skal nok stille og roligt få en større andel udenfor Kina
