Invenergy and Alliance de l’Énergie de l’Est Secure C$1.1B Financing for the Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1) Wind Project in Eastern Québec

Invenergy and Alliance de l’Énergie de l’Est, a consortium of 209 municipalities and territories in Eastern Quebec, including the Wolastoqiyik Wahsipekuk First Nation, have closed C$1.1B in financing for the Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1) Wind Project, a 350 MW wind project located in Eastern Québec. Developed in partnership with local municipalities and communities, PPAW 1 will deliver significant clean energy capacity to Hydro-Québec, support regional economic development, and strengthen collaboration between public and private partners in advancing Québec’s renewable energy goals. 

Invenergy and the Alliance de l’Énergie de l’Est are providing equity financing for the project. The remaining funds will be financed through bank credit facilities, primarily through Quebec and Canadian financial institutions, including the Fédération des caisses Desjardins du Québec, National Bank of Canada, and Canadian Imperial Bank of Commerce (CIBC), as well as Japan's Sumitomo Mitsui Banking Corporation’s (SMBC) Canada Branch and Germany's KfW IPEX-Bank GmbH. Fédération des caisses Desjardins du Québec functions as the Administrative Agent, the National Bank of Canada as the Documentation Agent and as Green Loan Coordinator, with Fédération des caisses Desjardins du Québec, CIBC and SMBC and all banks acting as Coordinating Lead Arranger of the bank syndicate. The financing was structured in accordance with the applicable Green Loan Principles.

Invenergy based in Chicago, Illinois, is North America’s largest privately held developer, owner, and operator of clean, reliable and affordable energy solutions.

McCarthy Tétrault LLP advised Invenergy, with a team led by Richard O’Doherty and Louis-Nicolas Boulanger, that included Jacob Stone, Alexandre Saulnier-Marceau, Alexandre Desmarais, Quentin Pérès (Financial Services), Elena Drouin, Janie Lambert-Roy (Commercial), François Gilbert, Antoine Lebrun (Derivatives), François Giroux, Nicolas Deslandres, Morgane Palau, Simon Bouthillier, Laurence Chabot, Audrey Poulin (Litigation) Dominique Amyot-Bilodeau, Morgane Besner (Environment & First Nations), Annie Gagnon-Larocque, Joannie Jacques, Rafaella Arapovic (Real Estate), Anca Neacsu (Construction), Matthew Kraemer, Fred Purkey, Genevieve Favreau, Adam Unick (Tax), Brian Lipson, Yassine Khadir (Transport), Alexandre Buswell, Myriane Le Francois and Dominique Gregoire (Labour).