BP’s� wind power unit is close to securing debt financing supporting the construction of its� Cedar Creek II wind farm in Weld county Colorado.
Spanish bank Banco Santander and Soci�t� G�n�rale, the Paris-based bank, are leading the $300 million long-term, none-recourse financing supporting the construction of the 250 megawatts facility. Bank of Tokyo-Mitsubishi, BBVA and Lloyds TSB have also reportedly stepped in.
An industry source tells G.E.R. that he expects Santander and SG to wrap up the Cedar Creek II financing at the end of the year. We have called BP’s press office and will post updates when we get them.
Cedar Creek II is backed by a 25-year power purchase agreement with Xcel Energy.
In 2008 BP and Babcock & Brown went live with the 300-megawatt Cedar Creek I wind farm.
Photo: Evan McKern, Flickr