Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $60.5 million, 20-year debt financing for the construction and operation of the 24 MW wind generation project located in the town Saint-Philémon in the Chaudiere-Appalaches region of Québec (the “Project”).
The Project, owned and sponsored by Capstone Infrastructure Corporation and the Municipalité de Saint-Philémon and MRC de Bellechasse, will utilize 8 Enercon E82 3MW turbines to generate energy sold to Hydro-Quebec Distribution under a 20-year power purchase agreement.
The financing arranged by Stonebridge was funded by Siemens Financial Ltd, Desjardins Financial Security Life Assurance Company and Industrial Alliance Insurance and Financial Services Inc.
Cam Di Giorgio, Vice President, Project Finance at Stonebridge commented, “We are delighted to have arranged and structured a debt financing for the Saint-Philemon wind project, and more than pleased with our continued relationship with Capstone.”
Michael Smerdon, Chief Financial Officer at Capstone commented, “This financing represents an important milestone in the development and construction of our Saint-Philémon wind project, which is expected to be completed and operating by the end of 2014. We are very pleased with the outcome Stonebridge achieved and appreciate the long-term support and commitment of our lenders.”
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.