Innergex Renewable and MRC de Rivière-du-Loup close C$61.7 million financing for wind energy project
August 7, 2013
61.70 Million CAD
On August 7, 2013, Parc éolien communautaire Viger-Denonville, s.e.c., a limited partnership held by Innergex Renewable Energy Inc. and the MRC de Rivière-du-Loup, closed a C$61.7 million non-recourse construction and term project financing for the Viger-Denonville wind energy project located in Québec, Canada. The C$61.7 million construction loan will carry a fixed interest rate of 6.0% (through the use of swaps) starting on December 31, 2013; following the start of the project’s commercial operation, it will convert into an 18-year term loan. The proceeds of the financing will be used to fund just over 80% of the total project costs.
This financing has been arranged by KfW IPEX-Bank GmbH as agent and lender.
Innergex Renewable Energy, headquartered in Longueuil, Québec, is an independent renewable power producer.
McCarthy Tétrault LLP represented Innergex Renewable Energy and MRC de Rivière-du-Loup, with a team led by Richard O'Doherty.