The Deal: A Novel Pre-pay Approach for a Wind Power Project

Happy Watts – Cannon Power Group, a San Diego wind energy developer, closed a $178 million financing deal with Siemens Financial Services in October, allowing it to expand an existing wind generation project in southern Washington State. The Siemens arrangement is only part of the story, however. Cannon combined a government grant with a pre-pay agreement involving a public power authority to complete the financing. The structure is novel and well suited to the current financial climate. via Renewable Energy World>>

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