Potentia Renewables Inc. (Potentia) has closed five unique, long-term, non-recourse project financings for each of its Stirling, Wheatland, Jenner 1, Jenner 2, and Jenner 3 Wind Energy Facilities currently under construction in Alberta.
KfW IPEX-Bank GMBH (KfW), will provide the projects with approximately CAD$600 million (US$467.78 million) in construction and operational financing. Jenner 1, 2 and 3 will have a total installed capacity of around 305MW from 55 wind turbines from the German manufacturer Enercon. The projects are located north of the village of Jenner and east of the town of Brooks.
The Stirling and Wheatland wind farms will have a total installed capacity of 243MW from 47 wind turbines supplied by Siemens Gamesa Renewable Energy, based in Spain. Stirling is located northeast of the village of the same name, and Wheatland wind farm, sits southeast of the town of Drumheller.
The project financing in each case is covered by the Danish export credit insurance EKF and/or Euler Hermes. Osler, Hoskin & Harcourt LLP acted as legal counsel to Potentia during the transaction, with Blakes, Cassels, and Graydon LLP acting on behalf of the lenders.
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