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What a Deal: Energy Group Winds Up 2006
On December 29, Davis Wright Tremaine client White Creek Project LLC closed the sale of its 204.7 megawatt White Creek wind generating project (the “Project”) to White Creek Wind I, LLC. Simultaneously with the sale of the Project, White Creek Wind I, LLC closed a $352 million construction financing, the proceeds of which will be used to fund the construction of the Project. Davis Wright Tremaine served as project counsel to White Creek Project LLC through development and financing of the Project. Seattle Energy Partner Dave Domansky led the Davis Wright team, which included associates Sean McCann, Cameron Cohen and Ame Wellman, and former associate Ryan Flynn. Partners Dirk Giseburt (Tax), Keith Allred (Bankrutpcy), Peter Mucklestone (Real Estate) and Jim Greenfield (Municipal Law) and associate Josh Rataezyk (Bankruptcy) also provided advice in connection with the transaction.
The members of White Creek Project LLC are Lakeview Light and Power, Tanner Electric Cooperative, and, indirectly, Public Utility District No. 1 of Cowlitz County, Washington and Public Utility District No. 1 of Klickitat County, Washington. Each member will be purchasing a portion of the output of the Project following commercial operation in late 2007. The Project is located in Klickitat County, Washington near Goldendale and will include eighty-nine 2.3 megawatt wind turbines manufactured and installed by Siemens Power Generation, Inc.
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