ENGIE North America secured $147 million in construction financing and $155 million in tax equity financing for the project through Bank of America Merrill Lynch (BofAML), with Rabobank providing a letter of credit. BofAML Global Commodities provided the power hedge.
TerraPro Solutions, a leading renewable energy risk management and project financing consultancy, worked on the project from development to financial closing. The initial title review work performed by TerraPro, provided the foundation for the legal title review and curative due diligence.
“We are pleased that our team played a role in advancing this project for ENGIE,” states Kimberlee Centera, CEO of TerraPro Solutions. “TerraPro’s title review work was an important step in helping to clear the path for the project’s financing and closing.”
“TerraPro’s title review work was an important step in helping to clear the path for the project’s financing and closing.”
About TerraPro Solutions: TerraPro Solutions’ risk management process includes in-depth risk reviews and comprehensive analysis as well as training and coaching that empowers project team members to make informed decisions about risk management. For more information contact Annemarie Osborne 949-237-2906 [email protected] or Nick Centera 858-573-2000 x 801 [email protected] or visit https://terraprosolutions.com/
About ENGIE North America Inc. ENGIE North America manages a range of energy businesses in the United States and Canada, including clean power generation, cogeneration, and energy storage; retail energy sales; and comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense. Nearly 100 percent of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE is the largest independent power producer and energy efficiency services provider in the world, with operations in 70 countries employing 150,000 people, including 1,000 researchers in 11 R&D centers. For more information, please visit http://www.engie-na.com, @ENGIENorthAm, and http://www.engie.com.