Competitive Power Ventures - Cimarron Project
Providng low cost, reliable wind generation for the CPV Cimarron Project
CPV Cimarron Renewable Energy Company, LLC was seeking financing for the construction of Cimarron , a proposed 165.6 MW wind farm to be located in Gray County, Kansas.
CPV is a power development company that is a valued customer of both Siemens Financial Services and Siemens Energy. In order for the financing to occur, it was necessary for SFS to provide funds as part of a club financing.
CPV invited SFS to be part of the club financing, in the form of a senior secured term loan.
The financing was provided in a difficult debt market when several banks were no longer active.
SFS was able to work with CPV and other members of the club financing to overcome issues and close the loan.
Siemens was able to provide a package of 72 turbines and critical financing support to CPV, which appreciated the joint effort.