Madrid, June 8, 2015. Gestamp Wind, the Wind division of Gestamp Renewables has been awarded with a 20 year PPA for Copperton wind farm, a 102 MW wind project located in the Northern Cape (South Africa).
CIT Group is to provide $36m financing in a senior secured credit facility to Punta Lima, owner of the 26MW Punta Lima Wind Farm, Puerto Rico. Financing of the deal was structures through a sale and leaseback of the facility between Punta Lima’s owner Sovereign Bank and Gestamp Wind. CIT’s Corporate Finance arm served as Sole Lead Arranger for the transaction, and financing was provided by CIT Bank. Terms of the transaction were not disclosed.