A planned 253-MW wind project in Texas has secured 100% ofsponsor equity commitment from Lincoln Clean Energy LLC, according to an Oct. 3 release.
The $360 million Dermott project will get construction financingfrom MUFG as coordinating lead arranger and Bank of America Merrill Lynch asmandated lead arranger. Meanwhile, Bank of America Merrill Lynch and GE unitGE Energy FinancialServices will make long-term equity investments, while BayernLBwill provide letter of credit facilities upon completion of construction.
The Scurry County-based project, also known as , isexpected to go online October 2017. It will sell 90% of its output to under a long-termcontract.
Lincoln Clean Energy, the developer of the project, said italso is working with I SquaredCapital on a pipeline of more than 1,000 MW of advanced-stagedevelopment projects across Texas and the Midwest.
Lincoln Clean Energy is a portfolio company of I SquaredCapital.