Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of an $11.1 million, 20-year debt financing for the construction and operation of the Aulds Mountain wind project in Nova Scotia, comprising a 4.6MW facility to be located in Pictou County, 20 km. east of New Glasgow.
The Project, owned and sponsored by Natural Forces Wind Inc. and Wind4All Communities II Inc., will utilize two (2) Enercon 2.3-MW turbines to generate energy that will be sold to Nova Scotia Power Inc. under the Nova Scotia Community Feed-In Tariff (“COMFIT”) program.
Cam Di Giorgio, Vice President, Project Finance at Stonebridge commented, “Having structured and arranged several transactions for our long term partners Natural Forces and Wind4All, it is again with pleasure that we announce the successful financial closing for the Aulds Mountain Project. We have no doubt that the Project will be a great success.”
John Brereton, President, Natural Forces Wind Inc. commented “Aulds Mountain is the fourth project that Natural Forces has developed which bring local investment into small renewable energy projects in Canada. With the completion of this project we now have over 1,000 Nova Scotians investors who own a part of an operating renewable energy project right in their back yard. Stonebridge was key to the sourcing and the completion of the debt financing for this project and we see Stonebridge as a key long term partner for our business.”
Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $3.0 billion of project debt financing.