Tibbar Energy USVI, LLC is seeking a $35 million bridge loan to secure bonds and insurance for a biomass renewable energy project in St. Croix, USVI. The project has a total CAPEX of $112 million, with 75% debt and 25% equity funding. The company has invested $7 million to date and is finalizing a construction loan with CoBank and long-term debt financing with the USDA RUS Energy Loan Program. The project includes a 25-year PPA with the St. Croix Water and Power Authority and aims to commence operations by December 2016.
documents/EFTA01116651.pdf
{}