CPV closes 152 MW Keenan II wind farm financing

16 February 2010 - CPV Renewable Energy Company (CPV REC), an affiliate of Competitive Power Ventures, Inc., announced that it has closed on financing and plans to begin construction on the 152 MW Keenan II wind farm, over approximately 8,000 acres 12 miles southwest of Woodward, Oklahoma. The project is scheduled for completion by year's end. It is the second phase of a multi-phased wind generation project with a total build-out potential exceeding 400 MW.

The project has secured a 20-year power purchase agreement with Oklahoma Gas & Electric Company. CPV REC selected an eight-bank club to provide a debt facility to fund project costs during construction, which converts to a term financing facility upon commercial operation. The lenders include: The Bank of Tokyo-Mitsubishi, Union Bank, Key Bank, Helaba, LBBW, Natixis, ING, and Rabo Bank. GE Energy Financial Services will provide tax equity for the project The Delaney Group, Inc. will construct the project, which will consist of 66 2.3 MW turbines.

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