Alterra and Starwood Close $287 Million in Wind Farm Financing
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Alterra Power Corp., a Vancouver-based renewable-energy developer, and Starwood Energy Group Global closed $287 million in financing for a wind farm in Texas.
Affiliates of Citigroup Inc., Banco Santander NA and Royal Bank of Canada are supplying a $212 million loan in addition to $75 million in letters of credit, Alterra said in a statement Tuesday. The loan is supported by a $219 million tax-equity investment commitment from subsidiaries of Citigroup and Berkshire Hathaway Inc.