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.


Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Renewable NRG_id1934
BG 2015DblBox_id2032
Hybrid Energy Innovations 2015