North American Windpower: Brookfield Nets C$450M In Financing For Ontario Wind Farm

Brookfield Nets C$450M In Financing For Ontario Wind Farm

in News Departments > Projects & Contracts

by NAW Staff on Monday 25 February 2013

Brookfield Renewable Energy Partners says it has completed a C$450 million financing round for the 166 MW Comber Wind Facility, located in Essex County, Ontario.

The project entered commercial operation in fall 2011 and has a 20-year power purchase agreement with the Ontario Power Authority.

The senior bonds bear an all-in interest rate of 5.13% and fully amortize over a period of 17.7 years, Brookfield says. Scotia Capital Inc. acted as the sole lead and bookrunner.

"The transaction was oversubscribed, with significant demand resulting in the participation of more than 25 investors,” notes Sachin Shah, the company’s chief financial officer. As the first public wind deal in Canada, the offering attracted many institutions new to the sector and should help to increase and diversify future financing opportunities for renewable power companies and investors alike."

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