Date Closed

December 08, 2009

Lead Office

Toronto

Value

175.00 Million CAD

On December 8, 2009, a syndicate of financial institutions led by The Manufacturers Life Insurance Company closed a C$175 million non-recourse project debt facility to be used to resume construction of Phase 1 of the 300-megawatt Dokie Wind Power Project.  The project, British Columbia's largest wind farm, is being developed jointly by GE Energy Financial Services and Plutonic Power Corporation, and was acquired as a result of the court ordered restructuring proceedings related to Earth First Canada Inc. 

Phase 1 of the project will have a capacity of 144-megawatts and is located near Chetwynd, British Columbia, approximately 1,100 kilometres northeast of Vancouver.  Construction had already commenced on the project but was delayed due to the restructuring proceedings.  The expected commercial operation date is early 2011.

McCarthy Tétrault LLP acted for the agent and lenders, with a team led by Seán O'Neill that also included Michael Birch, Thomas Isaac, David Lever, Conrad Rego, Craig Shirreff, and Michael Weizman.