D. E. Shaw Renewable Investments, L.L.C. (DESRI) and Oregon Windfarms, LLC (OWF) announced the start of construction of five wind farms known as the Huntington Wind projects.
The projects are located 30 miles northwest of Ontario in Baker County, Oregon, and consist of five independent 10.0 MW wind facilities developed by OWF. All five projects have signed 20-year qualifying facility power purchase agreements with Idaho Power Company and will use five 2.0 MW wind turbines supplied by General Electric Company.
Senior debt financing for the projects was provided by KeyBank, N.A. and CIT Bank, N.A., alongside a commitment for tax equity financing from U.S. Bancorp Community Development Corporation (USBCDC), a division of U.S. Bank. Following the achievement of financial close in mid-November 2015, the projects began construction in late December 2015 and are on track to reach commercial operations in Q4 2016. Site Constructors, Inc. will serve as the engineering, procurement, and construction (EPC) contractor for the projects.
Upon commencement of operations, the Huntington Wind projects are projected to generate enough clean, renewable energy to power over 9,000 households each year, according to metrics from the Environmental Protection Agency.
