The US Treasury Grant Bridge Financing would be secured by the US cash grant ("Cash Grant") and would mature the earlier of (i) the receipt of the Cash Grant, (ii) 90 days after completion of construction and (iii) October 31, 2011. Financial Close for this loan and the senior loan of $208 Million will be subject to usual and customary due diligence for a wind power project as well as lender approvals.
Western Wind Energy Corp. is a vertically integrated renewable energy electrical production company that currently owns over 500 wind turbines with 34.5 MW of rated capacity and a further 131 MW of expansion power purchase agreements in the States of California and Arizona.
Western Wind further owns additional development assets for both Solar and Wind Energy in California, Arizona, Ontario, Canada and has a development team in the Commonwealth of Puerto Rico.
Western Wind is in the business of owning and acquiring land sites and technology for the production of electricity from wind power and solar energy. Management of Western Wind Energy includes individuals involved in the operations and ownership of utility scale wind energy facilities in California since 1981.
Rabobank is a global financial services leader providing institutional and retail banking as well as financial solutions for the agricultural and renewable energy sectors in key markets around the world. From its century-old roots in the Netherlands, Rabobank has grown into one of the largest banks worldwide, with more than $850 billion in total assets and operations across 40 countries.
Rabobank is the only private bank in the world with a triple A credit rating from both Standard & Poor’s and Moody’s, and is ranked among the world’s safest banks by Global Finance magazine. In the Americas, Rabobank is a specialist in sophisticated, customer-driven solutions in the Global Financial Markets and Corporate Finance arenas, which includes Renewable Energy & Infrastructure Finance.