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Financing secured for Panorama 145 MW wind farm, Colorado


Financing for a 145 MW Panorama wind farm in the State of Colorado was secured as announced by Leeward Renewable Energy LLC. The independent power company announced that it had completed construction finance and secured tax fairness commitments with Japan’s MUFG Bank Ltd, which served as the lead coordinating arranger and administrative agent for the some US $ 190 million, which included a construction loan, a tax equity bridge loan, and peg the leveraged term loan commitment. According to a press release from Leeward Renewable Energy, the lending group included the National Australia Bank, Silicon Valley Bank and the Helaba Group, while Goldman Sachs offered a tax commitment of $ 135 million.

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Panorama is a new project created by Leeward in Weld Area, Colorado, the same county where the company’s Cedar Creek and Mountain Breeze wind farms are located. Vestas-American Wind Technology will supply 66 wind turbines for the new project. Construction of Panorama, which is currently underway, is expected to be completed in the second quarter of 2022, according to Leeward. The Panorama wind farm, if operational, will sell its output to Colorado-based Guzman Energy under a Power Purchase Agreement (PPA).

Panorama Colorado wind farm financing

“We are delighted to announce the completion of funding for the Panorama project with a number of new financial links led by MUFG Bank. “With their help, we are well positioned to complement Panorama with the most advanced and efficient technologies, bringing our total generation capacity in Weld County to 617 MW and helping Colorado meet its goal of 100% production. green energy production by 2040, ”said Chris Loehr, Chief Financial Officer of Leeward.

“We appreciate the chance to assist Leeward’s efforts and facilitate the shift to sustainable energy sources as part of our commitment to financing renewable energy,” said Beth Waters, Managing Director of Project Finance at MUFG. “Goldman investments like this allow our sponsor clients like Leeward to take advantage of all the incentives available to them to fund wind projects,” said Vivek Kagzi of Goldman Sachs Asset Management’s sustainable investment group.

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