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Pattern Energy Group - Santa Isabel Project

Puerto Rico's first commercial wind power project

Challenge

On the heals of closing another transaction, Pattern Energy Group, LP was seeking financing of the Santa Isabel project, a proposed 101.2 MW wind farm in Santa Isabel, Puerto Rico.

Timing was critical for the project to ensure that the turbines could be purchased and tax benefits could be claimed.

Solution

Siemens Financial Services was chosen to lead and structure the transaction and provide debt financing.

This was the second project for this customer working with Siemens Energy and SFS.  SFS's continued support helped to close the first and only wind farm in Puerto Rico, and one of the first projects fitted with SWT-2.3-108 turbines.

Customer Benefit

Siemens provided both long-term fixed rate debt financing and wind turbines,  continuing to provide the ease of “one-stop shopping” for Pattern.

Solutions from Siemens enabled the project to complete construction in time to qualify for federal tax grants, and generate enough electricity to power up to 25,000 homes.

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