$6.7 Million in Savings

Ferriter Scobbo & Rodophele, PC congratulates its client, the Berkshire Wind Power Cooperative Corporation (the “Cooperative”) for successfully completing the advance refunding of a portion of the Cooperative’s outstanding debt.  The debt was refunded on a tax-exempt basis with $40.2 million in bonds issued on December 22, 2017.    The refunding will result in approximately $6.7 million in debt service savings over the next 13 years for the benefit of the Cooperative’s municipal light department participants and their 106,674 customers.

The Cooperative owns and operates a 15 MW a highly successful wind generating facility located on Brodie Mountain in western Massachusetts.  

The Massachusetts Municipal Wholesale Electric Company (“MMWEC”) managed the refunding on behalf of the Cooperative.  Ferriter Scobbo served as counsel to the Cooperative in the transaction, preparing the various votes, resolutions, contracts and disclosure statements needed to accomplish the refunding.

Ferriter Scobbo has represented issuers in the issuance of over $4 billion in bonds, notes, letters of credit, loans and like financial instruments.