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The Week in Green Energy: The Bankable Project

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It’s a good news/bad news scenario right now for renewable project developers.

Banks are finally funding projects, but accessing that cash is difficult. Banks are requiring a signed, long-term power purchase agreement with a large utility and a cash-rich, A-rated blue-chip backer. Fulfill these two requirements and bankers will crack open the vault!

It’s a tall glass, to be sure, but this week we saw a perfect example of the kind of project that is succeeding in this environment: the 845-megawatt, Shepherds Flat wind farm in Oregon. The project has a hefty $1.3 billion price tag but its the model of a bankable project. GE is a part owner and is supplying the plant’s turbines and the power plant is also backed by a 20-year, fixed-price PPA with Southern California Edison. Continue reading The Week in Green Energy: The Bankable Project