Invenergy Wind LLC has closed on the project financing for the first phase of its Des Moulins wind energy project, which is currently under construction in Quebec.
Prudential Capital Group acted as the structuring and documentation adviser, and Sovereign Bank NA acted as the left lead coordinating bank, joint lead arranger, joint book runner and co-syndication agent for the transaction, which included construction, bridge and term loans. Rabobank Nederland-NY Branch and Union Bank NA also acted as joint lead arrangers and joint book runners. Sunlife Assurance Company of Canada also participated in the financing as a fixed-rate note purchaser.
The wind farm is located approximately 140 miles northeast of Montreal, in the municipalities of Kinnear's Mills, St-Jean-de-Brebeuf, and Thetford Mines in Quebec, and will consist of 59 Enercon E-82 2.3 MW wind turbines, for a total installed capacity of 135.7 MW.
The project has a 20-year power supply contract with Hydro Quebec and will connect to the Hydro-Quebec TransEnergie transmission grid.