Chadbourne Represented Terra-Gen Power in Wind Turbine Financing Deal Turbines Set for First Phase of Alta Wind Energy Center, One of Largest Ever Wind Farms
August 3, 2009
Chadbourne & Parke LLP represented Terra-Gen Power, LLC in a $115 million initial funding of a $140 million financing used to fund the purchase of 100 General Electric 1.5 megawatt wind turbines.
The turbines will be deployed in the first phase of Terra-Gen's Alta Wind Energy Center, located in Tehachapi, California, a 3,000 MW development initiative, which, when completed, will be the largest wind project in the United States. The financing commitments were arranged by Calyon, New York Branch and funded by a lender group composed of Calyon, Prudential Capital Group and CIT.
The deal, which closed on July 15, marks the second significant wind deal recently handled by Chadbourne, the first being representing Mainstream Renewable Power in the acquisition of a portfolio of wind farm projects in Illinois with a potential capacity of 787 MW.
The Chadbourne team was comprised of Adam Umanoff, Lloyd MacNeil, Vasilios Salamandrakis, David Markey, Patrick Erickson, Alice Bodnar, Rick Susalka and Lois LeBar.