Wind farm receives $246mn financing in Canada

The financing consists of a syndicated loan entered into exclusively by Canadian companies. National Bank Financial and Sun Life Assurance acted as the co-underwriters for the financing.

The L’Erable project was awarded by Hydro-Québec, which also signed a 20-year power purchase agreement for the output from the project. The plant is expected to be in operations within the next 18 months and will use 50, 2 MW Enercon wind turbines.