ABB_id2059
in News Departments > Projects & Contracts
print the content item

Gatinueau, Quebec-based Brookfield Power Inc. has closed a C$300 million bank facility in connection with its 189 MW Prince Wind Project through a wholly owned subsidiary, Brookfield Power Wind Prince Financial Corp. Brookfield says the proceeds of the financing will be used to repay the existing construction credit facility for Prince Wind.

The Prince Wind Project, which includes 126 wind turbines near Sault Ste. Marie, has been operational for a year. The project is being financed with a five-year floating rate bank facility, and payments of interest and principal will be made quarterly pursuant to amortization matched to coincide with the termination of the last power purchase agreement in 2028. Brookfield intends to hedge the bank facility's floating interest rate to a fixed rate.

Financing was provided by a syndicate of lenders, co-led by The Bank of Nova Scotia and Dexia Credit Local S.A, and was pre-syndicated as of financial close to include ABN Amro N.V., Bank of Tokyo-Mitsubishi UFJ, Fortis Capital and Sumitomo Mitsui Banking Corp. of Canada.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015