Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $12.24 million, long-term, fixed rate debt financing in respect of the construction and operation of 11 ground-mount solar projects with an energy generation capacity of 6.3 MW, located across Ontario (the “Project”).
Sponsor for the Project is Solar Flow-Through Project #1 (2013) Ltd. and Solar Flow-Through (2016) Ltd. (collectively known as “Solar Flow-Through Funds” or “SFT”), which is a group of limited partnerships with a unique flow-through share investment strategy. In partnership with First Nations, Métis, municipalities, and community cooperatives, the Project will generate clean, renewable energy that is sold to local distribution companies in Ontario under 20-year power purchase agreements with the Independent Electricity System Operator.
Stonebridge acted as financial arranger for SFT and financing for the Project was provided by La Capitale Civil Service Insurer Inc. (“La Capitale”) and Stonebridge Infrastructure Debt Fund II LP (“SIDF II”).
Stonebridge is a specialized financial services company with a proven reputation and expertise in financial advisory and 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 $3.95 billion of project debt financing since its inception.
SIDF II is an open-ended fund focused on long-term, investment grade social infrastructure and energy private debt transactions in the Canadian marketplace. SIDF II incorporates environmental, social and governance (ESG) factors into its investment processes at all levels. Stonebridge is a signatory of the UN PRI.
La Capitale Civil Service Insurer Inc is owned by La Capitale Civil Service Mutual, a mutual management corporation with assets of $7.1 billion, which operates mainly in Canada providing individual life and health insurance, savings and loans, mortgage loans, group insurance, automobile and home insurance, commercial insurance and surety lines and travel insurance.