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Published on March 21st, 2012 | by Zachary Shahan

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Financing Complete for Hawaii’s Largest Wind Farm

March 21st, 2012 by  


 
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.

location of hawaii's largest wind power project

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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About the Author

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director and chief editor. He's also the CEO of Important Media. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA] — after years of covering solar and EVs, he simply has a lot of faith in this company and feels like it is a good cleantech company to invest in. But he offers no investment advice and does not recommend investing in Tesla or any other company.



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