Terna Energy, CIP in energy deal in the US

Τerna Energy, a member of GEK Terna Group, on Friday said it has reached a cooperation agreement with Copenhagen Infrastructure Partners (CIP) to fund part of its investment program in the renewable energy source market in the US.

The first phase of the cooperation covers the Fluvanna I windpower park, with a power of 155 MW, using Gamesa wind turbines in the Scurry County region of Texas. CIP will offer capital of 61 milloin US dollars to cover part of the project, which has a budget of more than 250 million US dollars. Goldman Sachs also participates with capital of 150 million euros, while other funding needs are covered by a group of banks comprising of HSBC, NordLB, Morgan Stanley and Rabobank.

The Fluvanna I park is expected to be in operation by the end of 2017.

Terna Energy is already operating another windpower park, with a power of 138 MW, in Elmore County, Idaho and plans to expand its activities in the US market with another windpower park (Fluvanna II) in Texas.

Terna Energy Group is operating windpower parks with a total power of 738 MW, of which 468 MW in Greece, 138 MW in the US, 102 MW in Poland and 30 MW in Bulgaria. The Group aims to raise its total power capacity to 1,000 MW in the next few years.