Oak Creek Energy obtains $241 million senior debt for wind project

By Toni Weeks

San Luis Obispo, Calif., April 15 – Oak Creek Energy Systems, Inc. said it obtained senior debt financing from Overseas Private Investment Corp. (OPIC) and North American Development Bank (NADB) for the first two construction-ready stages of its Tres Mesas Wind Project in Mexico.

According to a press release, OPIC provided an $81 million loan for the 62.7 MW phase 1 through U.S. capital markets issuance of green guaranties (assets adhering to green bond principles) and will fund up to $105 million equivalent for the 85.8 MW phase 2 in its first Mexican-peso-denominated loan through the issuance of certificates of participation purchased by Banco Mercantil del Norte. NADB will provide a peso loan of about $55 million for phase 2.

The first two phases were purchased by an affiliate of GS Infrastructure Partners and GBM Infraestructura on March 31.

Oak Creek Energy is an Escondido, Calif.-based developer of utility-scale wind energy projects.

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