Commercial, Finance, Industrial, Sourcing Renewables, Wind  -  October 3, 2016

Financing for Amazon's largest wind project revealed

Amazon Inc.'s most recently announced wind project, the 253-MW "Amazon Wind Farm Texas" being built in Scurry County, Texas, is expected to cost about $360 million, according to new information from the project's developer, who has committed 100% of its sponsor equity. 

Lincoln Clean Energy,  a portfolio company of I Squared Capital, revealed the financial details in an Oct. 3 news release. Amazon is planning to purchase approximately 90% of the power generated from the facility, which the e-commerce giant first announced Sept. 15, once it begins operations in October 2017. 

The project will receive construction financing from Mitsubishi UFJ Financial Group as coordinating lead arranger, and Bank of America Merrill Lynch as mandated lead arranger. Bank of America Merrill Lynch and General Electric unit GE Energy Financial Services will invest in long-term tax equity for the project and BayernLB will provide letter of credit facilities after construction completion.

The wind farm is Amazon's largest renewable energy project to-date. 

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