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Overview

Bank of China contributes $51 million USD to $102 million USD syndicated loan for 60 MW Flat Water Wind Farm Acquisition Project

Commitments (Constant USD, 2023)$53,356,117
Commitment Year•2015Country of Activity•United StatesDirect Recipient Country of Incorporation•United StatesSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 1, 2015
Start (actual)
May 1, 2015
End (actual)
May 1, 2015

Geospatial footprint

Map overview

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Flat Water Wind Farm is a 60 MW wind farm located near Falls City, Nebraska, US and sells power to the Omaha Public Power District under a 20-year power purchase agreement. More detailed location information can be found here: https://www.openstreetmap.org/way/260418259#map=17/40.002766/-95.929967

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

State-owned Banks

  • Development Bank of Japan Inc. (DBJ)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Flat Water Wind Farm, LLC

Loan description

Bank of China contributes to $102 million USD syndicated loan for 60 MW Flat Water Wind Farm Acquisition Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In or around May 2015, a two bank syndicate — Bank of China (BOC) and Development Bank of Japan (DBJ) — entered into a $102 million USD syndicated loan agreement with Flat Water Wind Farm, LLC — a United States-incorporated special purpose vehicle (SPV) — for 60 MW Flat Water Wind Farm Acquisition Project. The proceeds are used by Gestamp Wind Energy for the financing of its acquisition of tax equity from Santander and US Bank in the 60 MW Flat Water Wind Farm. Santander owned 17% of the class A interests in the farm. US Bank, through its tax equity arm Firstar Development, owned 100% of the class B interests. The close of the acquisition gave Gestamp full equity interest in the asset. The acquisition was completed. Flat Water Wind Farm is a 60 MW wind farm located near Falls City, Nebraska, US and sells power to the Omaha Public Power District under a 20-year power purchase agreement.