Nova Scotia Wind Project Receives Financing

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Suzlon Wind Energy Corp., the North American subsidiary of Suzlon Energy Ltd., says that the owners of the first stand-alone wind farm built with its new S97 turbines have closed on long-term financing.

The 31.5 MW site in Amherst, Nova Scotia, is powered by 15 Suzlon S97-2.1 MW turbines. The project is owned by SP Amherst Wind Power LP, a partnership between subsidiaries of Sprott Power Corp. and Firelight Infrastructure Partners LP.

The partnership closed on $45 million in nonrecourse, construction and take-out debt financing arranged by Stonebridge Financial Corp., with funding provided by the Great-West Life Assurance Co. and Ontario Pension Board.

Construction on the Amherst project began in May and is expected to be completed in the first fiscal quarter of 2012.

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