By Michelle Froese Alterra Power, has announced the completion of financing for the 200-MW Flat Top wind project and the concurrent advancement of the project into the final phase of construction.
Key components of the financing include:
Alterra has satisfied the final conditions precedent to funding of its expanded loan facility with affiliates of AMP Capital Investors.
Sponsor-partner investment: A fund managed by BlackRock Real Assets has acquired a 49% sponsor-partner interest in the project, and will co-own the project with Alterra. Alterra will continue to own 51% of the sponsor equity.
$287 million construction loan facility: Affiliates of Citi, Santander and the Royal Bank of Canada
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