Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $16.1 million, long-term, fixed rate debt financing in respect of the construction and operation of the 10 MW ground-mount solar project located in the rural Municipality of Weyburn, Saskatchewan (the “Project”).
The Project is a partnership comprising George Gordon First Nation, Star Blanket Cree Nation & Natural Forces. The Project will generate clean, renewable energy that is sold to Saskatchewan Power Corporation under a 20-year power purchase agreement.
Stonebridge acted as Financial Arranger to the Pesakastew Solar Project and financing for the Project was provided by Stonebridge Infrastructure Debt Fund II Limited Partnership and fully discretionary investment accounts managed by Stonebridge.
Stonebridge is an exempt market dealer and asset manager, which through its various business groups and affiliates provides financial advisory services, asset management, long-term debt financing, agency services and lease financing. The company focuses on financial advisory and arranging of project financings in the infrastructure and energy sectors, having dedicated teams for each. Stonebridge has arranged and closed a total of $7.1 billion in financing, with $3.4 billion under administration for institutional investors. Stonebridge Infrastructure Debt Fund I and II Limited Partnerships and related separately managed accounts (the “Funds”) act as direct lenders and co-investors to infrastructure and energy projects across Canada. To date, the Funds have raised over $1 billion in committed capital.