CHICAGO, IL - (April 8, 2013) – Invenergy Clean Power LLC (“Invenergy”) announced today the successful closing of project financing for its Sandringham and Woodville Solar energy projects currently under construction in Ontario, Canada.
Union Bank, N.A. acted as the lead arranger and lender for the transaction, which included a construction loan, term loan, and a letter of credit facility.
“Invenergy is pleased to complete this financing for our first solar projects in Ontario,” said Jim Murphy, Invenergy’s Chief Financial Officer and Chief Operating Officer. “These facilities bring additional diversification to our nearly 1,000 MW clean energy project portfolio of wind, solar, and natural gas-fueled projects in Canada. We look forward to expanding further our presence in Canada in the coming years.”
Upon completion in 2013, the Sandringham and Woodville Solar projects each will generate 10 MW of clean, renewable energy, enough to power a total of more than 3,500 homes. They will feature advanced photovoltaic (PV) solar modules supplied by Celestica. Power generated from the two solar farms will be purchased by the Ontario Power Authority through long-term contracts.
About Invenergy
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. North America’s largest independent wind power generation company, Invenergy is committed to clean power alternatives and continued innovation in electricity generation. The company’s home office is located in Chicago and it has regional development offices throughout the United States and in Canada and Europe.
Invenergy has developed nearly 7,000 MW of clean energy projects that are in operation, in construction, or under contract, including 48 wind, 3 solar, and 6 natural gas power facilities. For more information, please visit www.invenergyllc.com. ###
Contact
Alissa Krinsky
Director of Communications
312-582-1554
akrinsky@invenergyllc.com