Renewable Energy Systems Americas (RES Americas) has reached a financial close of $222 million construction loan for the 150 MW Border Winds Project in North Dakota and a $286 million construction loan for the 200 MW Pleasant Valley Wind Project in Mower and Dodge Counties, Minnesota.
For this financial deal, Bayerische Landesbank and Société Générale acted as the Joint Lead Arrangers, Coordinating Lead Arrangers and Joint Book runners for both transactions.
Seth McIntosh, vice president, RES Americas said, “BayernLB, Société Générale, and the rest of the bank groups have brought financial strength and dedication to these transactions. Their presence on the Border Winds and Pleasant Valley teams is an essential ingredient.”
RES Americas is the developer and engineering, procurement, and construction (EPC) contractor of Border Winds and Pleasant Valley projects which will utilize 175 V100-2.0 MW Vestas turbines. On completion, RES Americas will transfer the projects to Xcel Energy which will own and operate them.
Alexander von Dobschütz, global head, Financial Institutions & Structured Finance, BayernLB, stated, “We are supporting RES Americas and Vestas, important BayernLB partners, by financing the construction which will provide clean, cost-efficient power to Minnesota, North Dakota and the surrounding regions.”