Cordelio Power says it has completed project financing for the 185 MW Glacier Sands wind project in Mason County, Ill.
This construction-period financing was coordinated by Rabobank and provided by affiliates of Rabobank, Bank of Montreal, National Bank of Canada, and MUFG. Upon completion of construction, which is expected later this year, this construction-period facility will convert into a term loan.
The loans are supported by a tax equity commitment from a subsidiary of Berkshire Hathaway Energy, which will be funded when the project achieves commercial operations.
Cordelio expects to complete construction for the Glacier Sands project in October. The project will sell 100% of its renewable energy under a 15-year agreement with Microsoft Corp.
“The Cordelio team is pleased to take this next step in building our midwestern renewables base,” says John Carson, Cordelio CEO. “Our thanks go out to the Mason County community, Microsoft, our lender group, and our project partners Berkshire Hathaway Energy and Swift Current Energy.”
Cordelio manages over 1 GW of renewable generation assets across North America, as well as owns a pipeline of over 4.5 GW of wind, solar and storage projects in the western and midwestern U.S.
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