July 04, 2016
Invenergy Completes Project Financing for Roncevaux Wind Farm
CHICAGO (July 5, 2016) – Invenergy Wind LLC (“Invenergy”) announced today that it has arranged project financing for its Roncevaux wind farm (“Roncevaux”), which currently is under construction in Québec.
National Bank Financial Markets and Sun Life Assurance Company of Canada acted as Lenders and 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 34 General Electric GE 2.2-107 wind turbines, and is expected to commence operation in December of 2016.
“We’re pleased to complete this important milestone together with our local community partners” said Jim Murphy, Invenergy’s Chief Financial Officer. “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.”
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 be purchased 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’énergie Gaspésie–Îles-de-la-Madeleine’s president, Richard Saint-Laurent. “We are very pleased with the financing conditions which show a high level of confidence from the financial partners concerning the 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 in an equal partnership which facilitated the financing of the Roncevaux project,” said Énergie Éolienne Bas-Saint-Laurent president Michel Lagacé.
The Roncevaux wind facility is sited nearby Invenergy’s existing Le Plateau, Le Plateau 2 and Des Moulins Phase 2 wind farms.
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 the Americas, and Europe. Invenergy's home office is located in Chicago and it has regional development 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 in operation, construction or advanced development, including wind, solar, natural gas-fueled power generation and energy storage projects. For more
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