Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a long-term debt financing for the construction and maintenance of a data centre facility for Hydro-Québec, to be located in the province of Québec.
The consortium led by Pomerleau Inc. and including Dalkia Canada Inc. and Ehvert Engineering Inc. will design, construct and maintain the new Uptime Institute Tier III Certified data centre. The data centre will be built for and leased by Hydro-Québec for a 20-year period and will support Hydro-Québec’s existing and future operations.
The financing arranged by Stonebridge was funded by Industrial Alliance Insurance and Financial Services Inc., Canada Life Assurance Company and Stonebridge Infrastructure Debt Fund II L.P.
Omer Malik, Vice President, Project Finance at Stonebridge commented, “We are very proud to have been able to support such a high quality consortium by providing them with a competitive and efficient financing structure. The financing of data centres is relatively new for the Canadian private placement market, but we are confident that the successful completion of this project will support increased activity in the sector. We wish the consortium and Hydro-Québec all the best.”
Pierre-Luc Dumas, Vice President – Public Infrastructure Development at Pomerleau Inc., said, “The data centre is on the cutting edge of technology and we are pleased to bring it to fruition for Hydro-Québec. In addition, the project fits with our long-term plan of focusing on contracts involving alternative financing arrangements such as design-build-finance-operate, where we have developed strong expertise. And through our partnership with Dalkia and Ehvert, we ensure that we are fully meeting Hydro-Québec’s expectations.”
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 billion1 of project debt financing.
1 As of December 31, 2014