Boralex Closes US$ 95 million Financing for Témiscouata II Wind Farm in Quebec

Boralex Inc. has announced the closing of a US$95 million financing for the 52 MW Témiscouata II wind farm, located on public lands in the municipalities of Saint-Elzéar-de-Témiscouata and Saint-Honoré-de-Témiscouata, Quebec, Canada.

Located on public lands in the municipalities of Saint-Elzear-de-Temiscouata and Saint-Honore-de-Temiscouata, the site has been in operation since 2015. The financing was provided by Desjardins, as the sole lender and arranger. The funding comprises a US$85 million term loan, amortized over 11 years, plus a letter of credit facility, totaling US$9.7 million, for guarantees under contracts with Hydro-Quebec and financing reserves.