Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $16 million, 20-year debt financing for the construction and operation of two wind generation projects in Nova Scotia comprising a 4.0MW facility to be located in Hillside Boularderie, NS and a 2.3MW facility to be located in Gaetz Brook, NS.
The Projects, owned and sponsored by Natural Forces Wind Inc. and Wind4All Communities Inc., will utilize Enercon E92 2.3MW 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, “We are very pleased to have structured and arranged another financing for Natural Forces and Wind4All, and look forward to the continuation of our partnership with the project sponsors, including the financing of additional COMFIT projects.”
John Brereton, President, Natural Forces Wind Inc. commented “The NS COMFIT programme is visionary which, when implemented correctly, stimulates real buy-in from local investors and community groups into renewable energy projects. Between all of the Wind4All projects there are now over 1,000 Nova Scotians owning a piece of a wind farm and who will earn dividends for the next 20 years. Fundamental to the success of our projects in Nova Scotia has been Stonebridge – they are a trusted partner who always look for solutions in the delivery of a successful project.”
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.