Shepherds Flat secures $1.3B loan guarantee
By Christina Williams, Sustainable Business Oregon
Sustainable Business Oregon
The U.S. Department of Energy has finalized a $1.3 billion loan guarantee for the Shepherds Flat wind farm in Eastern Oregon, according to the offices of Sen. Jeff Merkley, D-Ore., and Sen. Ron Wyden, D-Ore.
The loan had been all but certain in October when the U.S. Department of Energy issued a partial guarantee for the $1.3 billion loan, one of 16 energy projects approved by the U.S. Department of Energy.
The 845-megawatt wind-generation facility will touch Gilliam and Morrow counties in Eastern Oregon and is being developed by Caithness Energy LLC and GE Energy Financial Services.
The power generated by the farm will be sold directly to Southern California Edison through 20-year fixed price power purchase agreements. Supporters say it will avoid 1.2 million tons of air pollution per year.
Construction of the Shepherds Flat Wind Farm is expected to create 400 jobs, with 35 permanent jobs supported on site once its created.
“This is a great holiday gift for Eastern Oregon and it couldn’t come at a better time,” Merkley said in a statement. “This financing from the U.S. Department of Energy will help put people back to work and continue Oregon’s reputation as a clean energy leader.“
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