United States

United States

RES secures US construction financing

UNITED STATES: RES Americas has secured $508 million in construction loans for the 150MW Border Winds and 200MW Pleasant Valley projects.

175 Vestas V100 2MW will be installed at the projects
175 Vestas V100 2MW will be installed at the projects

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The renewable energy developer secured a $222 million loan for the Border Winds projects in North Dakota and $286 million for Pleasant Valley in Minnesota.

The loans were arranged by the New York-branch of German bank Bayerische Landesbank and French bank Société Générale.

RES is the engineering, procurement and construction contractor for the two sites in northern USA. The developments will use a total of 175 Vestas V100-2MW turbines.

Once the projects are commissioned, they will be transferred to Minnesota-based utility Xcel Energy, which will own and operate them.

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