News

C&P Represented GE in Connection with Its Investment in a $319 Million Wind Farm

March 10, 2010

Chadbourne & Parke LLP represented GE Energy Financial Services in connection with the company's $65 million preferred equity investment in an Oklahoma wind farm.

GE made a preferred equity investment to fund construction of the CPV Keenan II wind farm 12 miles southwest of Woodward, Okla. GE has an option to invest an additional $100 million in partnership equity upon commencement of commercial operations.

CPV Keenan II Renewable Energy Company, LLC, an affiliate of Competitive Power Ventures, Inc., commenced construction of the 152 megawatt wind farm late in February. The project is expected to be completed by the end of 2010.

The project is also being financed by a $212 million senior secured debt facility jointly arranged by The Bank of Tokyo-Mitsubishi and Union Bank.

The transactions for both the preferred equity investment and the debt financing closed on February 16.

Working on the deal for Chadbourne were partners Paul Weber and Eli Katz along with associates Benjamin Koenigsberg, Noah Pollak and John Marciano.