Leading independent renewable energy provider Terra-Gen has closed construction financing on its 400-megawatt (MW) High Prairie Wind Power Facility. The $650 million financing resulted from the attractive development attributes of the project, its Build Transfer Agreement with Ameren Missouri and Terra-Gen's strong banking relationships.
"This financing will allow us to complete the on-going construction of the facility and help Ameren Missouri to meet its goal of delivering more renewable energy to its customers," said Jim Pagano, Terra-Gen's Chief Executive Officer.
The wind facility, located in Schuyler and Adair Counties in northeastern Missouri, is under construction and is expected to be completed by late Q3 2020. Once completed, the facility will be transferred to Ameren Missouri under a Build Transfer Agreement executed in April 2018. The High Prairie Wind Power Facility will generate enough power annually for approximately 125,000 homes. The project will provide significant economic benefits to the local counties, school districts and landowners, including jobs throughout the construction and operation of the project.
MUFG Bank, Ltd. led the bank group for the construction financing which also included Canadian Imperial Bank of Commerce, Citibank, N.A., ING Capital LLC, KeyBanc Capital Markets Inc., and Mizuho Bank, Ltd.
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