Innergex Renewable Energy Closes Financing For Montagne Seche Wind Farm

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Innergex Renewable Energy Inc. has closed a C$31.7 million nonrecourse construction and term project financing for the 38% interest it holds in the Montagne Seche wind farm located in Quebec.

The financing agreement contracted with National Bank of Canada as sole lender allows Innergex to finalize the project's financial setup. The C$31.7 million construction loan will convert into a four-year term loan, amortizing over a period of approximately 18.5 years and starting at the beginning of commercial operation.

Construction of the wind farm has started, and its commercial operation is expected to begin on Dec. 1, 2011. The wind farm will have a total installed capacity of 58.5 MW and is expected to generate 193.4 GWh of energy per year.


The project is backed by a 20-year power purchase agreement with Hydro-Quebec.

SOURCE: Innergex Renewable Energy Inc.

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