First Wind unit closes $76 million financing including term loan, LoC

By Lisa Kerner

Charlotte, N.C., April 20 - First Wind Holdings Inc. announced its subsidiary closed a $70 million non-recourse construction loan and $6 million of letters of credit for a total of $76 million of construction financing for its 34 megawatt Bull Hill Wind project in Hancock County, Maine.

Union Bank is the administrative agent.

An affiliate of Union Bank will provide long-term capital through sale-leaseback financing for the Bull Hill Project upon achievement of commercial operations, a company news release said.

Boston-based First Wind owns and operates four other wind energy projects in Maine.

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