Partial Loan Guarantee for New Hampshire Wind Farm

The renewed flurry of loan guarantees from the DOE this past week included a finalized partial guarantee for a $168.9 million loan to Granite Reliable Power for a 99-MW wind generation project that is expected to become New Hampshire’s largest wind farm.

The project will be located in Coos County in northern New Hampshire, approximately 110 miles north of Concord.  Project sponsors, BAIF Granite Holdings, LLC and Freshet Wind Energy, LLC, expect the project will fund nearly 200 construction jobs.

The wind generation project will consist of 33 Vestas V90 3.0-MW wind turbines.  The majority of the power from the project will be sold to Central Vermont Public Service and Green Mountain Power.  WestLB AG is the lender-applicant for the project, which was submitted under the Financial Institution Partnership Program (FIPP).  In a FIPP financing, DOE provides a partial guarantee for up to 80% of a loan provided to a renewable energy project by qualified financial institutions. 

Sources: POWERnews, DOE

SHARE this article