August 28, 2008

 

With the closing of the construction financing, NaturEner has also successfully secured commitments for approximately $190 mm of long-term financing for Glacier 1 with Morgan Stanley, Banco Espírito Santo, and  Banco Sabadell, S.A. of Spain.  New York-based Capstar Partners acted as exclusive financial adviser to NaturEner on the placement of the tax equity.

“This is a major milestone for our Company.  We are very excited to be working with Morgan Stanley, Banco Espírito Santo, and Sabadell as we establish our footprint in North America,” said Alfredo Cahuas, Chief Financial Officer of Naturener USA.

Following the completion of the Glacier 1 wind farm, NaturEner plans to complete the Glacier 2 wind farm adjacent to Glacier 1 for an additional 103.5 MW using the same model turbine.  NaturEner is developing additional wind energy facilities representing approximately 1,800 MW of aggregate nameplate capacity in Montana and the western U.S. as well as in Alberta, Canada via its affiliate NaturEner Energy Canada, Inc.

About the Company
Naturener USA, LLC is a wholly owned subsidiary of Spain-based Grupo Naturener, S.A. which develops, owns, and operates renewable energy facilities.  Grupo Naturener, S.A. is a subsidiary of Belgian group Sapec.  Additional shareholders in NaturEner S.A. include Caja Castilla La Mancha (CCM) Corporation, a Spanish savings bank, and a private North American investor.  Naturener USA and Naturener Energy Canada, Inc. are wholly-owned subsidiaries of Naturener, S.A.  Naturener USA and Naturener Canada represent the initial international expansion of Naturener, S.A. into North America.