National Bank of Canada completes refinancing of Solar Spirit Solar Facility

Date Closed

February 12, 2019

Lead Office


On February 12, 2019, National Bank of Canada completed a refinancing of the Solar Spirit Solar Facility ("Solar Spirit"), a ground mount solar photovoltaic electrical energy producing facility located 4.5 kilometres northeast of Belleville, Ontario. The facility has the capacity to generate approximately 10 MW of clean energy. Financial terms of the refinancing were not disclosed.

Solar Spirit is owned and operated by BluEarth Renewables, a Calgary-based independent power producer focused on wind, hydroelectric and solar power projects in Canada and the United States. Projects operated by BluEarth have over 1000 MW of capacity in development.

McCarthy Tétrault LLP advised National Bank, as administrative agent and collateral agent, with a team led by Joe Palin that included Dami Katibi and Julianne Gu.