Invenergy completes financing for Quebec’s Roncevaux Wind Farm
Invenergy Wind LLC has completed the financing for the Roncevaux wind farm located in the Ruisseau-Ferguson unorganized territory in the MRC d’Avignon, approximately 500 kilometers east of Quebec City, Canada.
The project, which is currently under construction consists of 34 GE 2.2-107 wind turbines totalling a capacity of 74.8 MW. The project is scheduled to start commercial operation by December this year.
The National Bank Financial Markets and Sun Life Assurance Co. of Canada acted as lenders providing the financing package for the project. They also acted as co-lead arrangers for the transaction.
The power generated will be purchased by Hydro-Quebec Distribution under a 25-year power purchase agreement (PPA).
According to sources, Jim Murphy, Invenergy’s chief financial officer, said:
“We’re pleased to complete this important milestone together with our local community partners. With this financing secured, we will proceed to completion of construction of the facility. Once Roncevaux is operational, Invenergy will be managing five projects, representing more than 391 MW of clean energy sources in the province.”
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