First Wind completes pair of financings totaling $191 million

By Lisa Kerner

Charlotte, N.C., July 21 - First Wind announced it closed an eight-and-a-half-year $115 million term loan facility from Alberta Investment Management Corp. and a $76 million one-year loan with HSH Nordbank.

The financings total $191 million.

A First Wind spokesperson did not provide information on interest rates for the financing.

First Wind said proceeds will be used to further the company's development activity and for general corporate purposes.

"These investments in First Wind in the midst of very difficult financing markets show confidence in First Wind's ability to continue to develop, build, and operate wind farms in our target markets," First Wind chief executive officer Paul Gaynor said in a news release.

First Wind is an independent wind power developer based in Newton, Mass. The company is backed by affiliates of the D.E. Shaw group and Madison Dearborn Partners.

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