Financing for the Caithness Shepherds Flat project.
NEW YORK–(BUSINESS WIRE)–Clifford Chance US LLP has advised the U.S. Department of Energy’s Loan Programs Office as 80 percent guarantor for a $1.3 billion loan finalized recently to help finance the construction of what will be the world’s largest wind farm – the Caithness Shepherds Flat project – an 845-megawatt facility located in eastern Oregon. Clifford Chance’s loan financing documentation work in support of DOE comes as part of a contract the firm won earlier this year to advise DOE on certain loan guarantee transactions.
Partner David Evans led a Clifford Chance U.S.-based Energy & Projects team that included associates Martin Hupka and Bryan Tollin. Partner Don Carden advised on tax-related matters.
Sponsors for the Shepherds Flat project are Caithness Energy, LLC and GE Energy Financial Services. The loan is funded by a group of 26 institutional investors and commercial banks led by Citibank, Bank of Tokyo-Mitsubishi UFJ, Ltd., RBS Securities and WestLB Securities, Inc.
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