Western Wind: Rabobank to finance C$55 million for Windstar project

By Lisa Kerner

Charlotte, N.C., May 25 - Western Wind Energy Corp. announced that Cooperatieve Centrale Raiffeisen-Boerenleenbank BA (Rabobank Nederland), New York Branch will arrange C$55 million in project financing, providing the balance of the funds needed to construct the Windstar Wind Energy Project in Tehachapi, Calif.

The U.S. Treasury grant bridge financing will be secured by a U.S. cash grant.

It will mature the earlier of the receipt of the cash grant, 90 days after completion of construction and Oct. 31, 2011, according to a Western Wind news release.

Based in Vancouver, B.C., Western Wind operates wind-energy electrical generation facilities.

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