Terra-Gen Lands Major Funding Expects To Finish America s Largest Wind Farm Next 12 Months

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The everlasting financing of Alta Initiatives II-V is structured as a leveraged lease whereby Citibank, N.A. has dedicated to buy the projects at the beginning of commercial operations and lease them back to Terra-Gen. Terra-Gen will proceed to handle and operate the wind tasks beneath long-term agreements. "We imagine this transaction is the first to be structured as a leveraged lease in the wind space as well as the primary 144A bond issuance for wind assets since 2005. We are hopeful that these benchmarks will increase the capital base out there to fund future development within the renewables sector," stated John O'Connor, CFO of Terra-Gen.

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