Lincoln Clean Energy announces financing for Texas wind farm
Lincoln Clean Energy (LCE), an I Squared Capital portfolio company, announced this week the financing of its Willow Springs project, a 250-megawatt (MW) wind farm in Haskell County, Texas.
“I Squared Capital is proud to be at the forefront of the transition to renewable energy in the
United States,” Adil Rahmathulla, partner at I Squared Capital, said.
Bank of America Merrill Lynch (BAML) and Rabobank will provide construction and term financing for the project. BAML and BHE Renewables, LLC will provide long-term tax equity. Power from the project
is contracted under an agreement with Merrill Lynch Commodities.
GE Renewable Energy will provide the project with 100 of its 2.5-116 wind turbines. GE will also perform a 20-year, extended full service agreement supporting the wind farm once it enters commercial operation.
“GE is excited to build on our relationships with Lincoln Clean Energy and I Squared Capital,” Pete McCabe, president and CEO of GE’s Onshore Wind business, said. “Once Willow Springs is complete, GE will have commissioned 1,363 megawatts of wind capacity across six wind farms developed by LCE over four years. We look forward to extending our relationship with LCE and I Squared Capital in the future.”
Lincoln Clean Energy is also currently constructing the 253-MW Amazon Wind Farm Texas.
