Capstone Infrastructure Corp. has announced approximately C$76 million in new project-level financing for the 25 MW Goulais wind farm. The project is now under construction in the Algoma district of Ontario, and Capstone is developing the site in partnership with the Batchewana First Nation of Ojibways.
Specifically, Capstone has entered into a credit facility arranged by Stonebridge Financial Corp. that will provide up to approximately C$76 million in project-level construction and long-term financing for the project, bearing interest at a fixed rate of 5.16%. Following construction completion, the financing will convert to a fully amortizing term loan maturing in 2035.
Capstone and the Batchewana First Nation have contributed a combined C$23.5 million in equity for the project, for a total investment of up to C$100 million. The Goulais wind farm is expected to be commissioned during the second quarter of 2015.