Google and Citi are investing a total of $110 million in the Alta Wind Energy Center (AWEC). Both the investors will each put $55 million in the 102 Mega Watt Alta IV project, which is being developed by Terra-Gen Power, an affiliate of ArcLight Capital Partners and Global Infrastructure Partners.
The financing will be a leveraged lease, whereby the investors have committed to buy the projects at the beginning of commercial operations and lease them back to Terra-Gen Power. As a part of the transaction, Terra-Gen will continue to manage and operate the wind project.
