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

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015