CHICAGO (July 5, 2016) – Invenergy Wind LLC (“Invenergy”) announced today that it has arrangedproject financing for its Roncevaux wind farm (“Roncevaux”), which currently is under constructionin Québec.
National Bank Financial Markets and Sun Life Assurance Company of Canada acted as Lendersand Co-Lead Arrangers for the transaction.
Roncevaux is located in the Ruisseau-Ferguson unorganized territory in the MRC d’Avignon,Quebec, Canada, approximately 500 km east of Quebec City. The 74.8 MW project will feature 34General Electric GE 2.2-107 wind turbines, and is expected to commence operation in December of2016.
“We’re pleased to complete this important milestone together with our local community partners” saidJim Murphy, Invenergy’s Chief Financial Officer. “With this financing secured, we will proceed tocompletion of construction of the facility. Once Roncevaux is operational, Invenergy will be managingfive projects, representing more than 391 MW of clean energy sources in the province.”
Roncevaux is a collaboration between Invenergy, the Régie intermunicipale de l’énergie Gaspésie–Îles-de-la-Madeleine and Énergie Éolienne Bas-Saint-Laurent S.E.N.C. Energy output will bepurchased by Hydro-Québec Distribution through a 25-year power purchase agreement.
“We are happy that this important step is completed,” said Régie intermunicipale de l’énergieGaspésie–Îles-de-la-Madeleine’s president, Richard Saint-Laurent. “We are very pleased with thefinancing conditions which show a high level of confidence from the financial partners concerningthe economic model put forward by the Eastern Quebec communities and their partner Invenergy.’’
Énergie Bas-St-Laurent is proud to be associated with its high-quality public and private partners inan equal partnership which facilitated the financing of the Roncevaux project,” said Énergie ÉolienneBas-Saint-Laurent president Michel Lagacé.
The Roncevaux wind facility is sited nearby Invenergy’s existing Le Plateau, Le Plateau 2 and DesMoulins Phase 2 wind farms.
About Invenergy
Invenergy is delivering innovation in energy. Invenergy and its affiliated companies develop, own,and operate large-scale renewable and other clean energy generation and storage facilities in theAmericas, and Europe. Invenergy's home office is located in Chicago and it has regionaldevelopment offices in the United States, Canada, Mexico, Japan and Europe.
Invenergy and its affiliated companies have developed more than 13,719 MW of projects that are inoperation, construction or advanced development, including wind, solar, natural gas-fueled powergeneration and energy storage projects. For more
Contact: Mary Ryan, Senior Manager, Public Affairs 312-582-1424 or mryan@invenergyllc.com