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The ability to generate and structure investment capital
remains one of AES SeaWest’s greatest strengths. Through
our established relationships with commercial and investment
banks and advisory firms, AES SeaWest effectively steers
a wind project’s financing from construction through
commercial operation.
During a project’s initial stages, AES SeaWest funds
or co-funds the working capital requirements necessary
for site acquisition, wind resource assessment, planning,
permitting and other development-related activities.
Once construction commences, AES SeaWest procures competitively-
priced construction financing from a broad array of
partners active in the wind sector, including equipment
vendors, financial institutions and strategic investment
partners. As a project nears completion, AES SeaWest arranges
non-recourse, long-term debt financing, secured solely
by project assets and repaid through the project’s
cash flow.
In conjunction with the placement of the term debt,
AES SeaWest accesses the global equity capital markets to
source the remaining take-out financing necessary for
the project to begin commercial operation. The equity
capital is typically provided by international energy
companies, utilities and institutional investors. To
these parties, AES SeaWest projects provide attractive,
long-term returns that form the basis for the development
of long-term strategic relationships.
Improving a project’s financial structure can
often have a greater impact on a project’s cost
per kilowatt-hour (KwH) than any single capital component,
making the difference between a project’s being
competitive vs. not being economically viable. Because
of this, AES SeaWest recognizes that a successful wind project
requires innovative financial solutions, for both project
owners and lenders, and has dedicated a team of Structured
Finance specialists to ensure a win-win solution for
all financial parties. This team of financial professionals
has an impressive track record, having sourced, structured
and closed more than $300 million of non-recourse term
debt and equity financing since 1998.
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