in News Departments > Projects & Contracts
print the content item

Canadian Hydro Developers has entered into a definitive agreement for the acquisition of the 99 MW Le Nordais Wind Plant on the Gaspe Peninsula in the province of Quebec for approximately C$109.7 million in cash, plus the assumption of existing debt against Le Nordais' assets of C$6.3 million.

Transactions are expected to be closed on or before Feb. 28, 2008, according to Canadian Hydro, which is a developer, owner and operator of 19 power generation facilities totaling net 265 MW of capacity in operation and an additional 403 MW nearing construction.

In addition, Canadian Hydro has signed a commitment letter for a 12-month, unsecured bridge facility for C$72 million of the acquisition price with its syndicate of corporate lenders co-led by the Toronto-Dominion Bank and the Bank of Nova Scotia. It is anticipated that the bridge facility will be repaid on or before maturity through the issuance of senior unsecured debentures.

Completion of the acquisition is subject to, among other things, the consent of Hydro-Quebec to the extent required by the long-term power purchase agreement that expires on Dec. 17, 2033, and the receipt of all necessary regulatory approvals.


Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965