Financing Complete for Hawaii’s Largest Wind Farm

March 21st, 2012 by Zachary Shahan

First Wind announced yesterday that financing is now complete for its 69-megawatt Kawailoa Wind project in Hawaii. This wind project is the largest in the state and will be located on Kamehameha Schools’ Kawailoa Plantation lands on Oahu’s North Shore.

On the North Shore of Oahu Island, Hawaii

As reported previously here on CleanTechnica, construction of the Kawailoa Wind project began in December and is expected to be completed by the end of 2012.

“A subsidiary of First Wind closed a $220 million non-recourse construction and term loan and $16 million in letters of credit for the Kawailoa project,” First Wind wrote yesterday. “Union Bank served as Administrative Agent and Joint Lead Arranger. Other Joint Lead Arrangers include Bayern LB, Rabobank and Siemens Financial Services. CIBC and CoBank also participated in the financing.”

Once complete, the 30-turbine wind project will generate enough power for up to roughly 14,500 homes on the island, approximately equal to 5% of Oahu’s annual electrical demand.

Source: First Wind
Image: North Shore of Oahu Island, Hawaii courtesy shutterstock

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Tags: First Wind, Hawaii, hawaii largest wind farm, hawaii wind farm, Kawailoa, Kawailoa Wind, oahu, oahu north shore, oahu north shore wind farm, oahu north shore wind power project, quickies, wind power projects

About the Author

Zachary Shahan spends most of his time here on CleanTechnica as the director/chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of Solar Love, EV Obsession, Planetsave, or Bikocity. Zach is recognized globally as a solar energy, electric car, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media. You can connect with Zach on any popular social networking site you like. Links to all of his main social media profiles are on ZacharyShahan.com.