Cordelio completes financing for 171 MW wind project in Illinois

Cordelio Power has concluded the US$301 million construction loan facility and US$157 million tax equity agreement for the 171 MW Moraine Sands wind project located in Mason County, Illinois, USA. The company will sell all of its power under a long-term agreement with Microsoft Corporation.

The construction loan facility was provided by affiliates of MUFG, the National Bank of Canada, the Bank of Montreal, and Export Development Canada. A part of this facility will convert into a term loan upon the project's commercial operation. JPMorgan Chase & Co. has committed to a US$157 million tax equity agreement. The deal will be funded once the Moraine Sands wind project begins operating, and Cordelio expects that the construction will be completed later this year.

Cordelio Power's involvement in renewable energy aims to advance the renewable energy industry while contributing to the achievement of the company's emissions reduction objectives.