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Northland Power completes C$88.5 million financing of two solar power projects

Date Closed

September 24, 2013

Lead Office



88.50 Million CAD

On September 24, 2013, subsidiaries of Northland Power Inc. concurrently completed project financing of up to an aggregate of C$88.5 million to finance the construction and operation of two solar power projects, each being a 10 megawatt nameplate capacity ground-mounted solar photovoltaic project situated in the Province of Ontario.

The credit facility was arranged by Union Bank, Canada Branch who also acted as coordinating lead arranger, bookrunner, syndication agent and as administrative agent for the lenders consisting of Union Bank and Siemens Financial Ltd.

McCarthy Tétrault LLP represented Union Bank and the syndicate of lenders, with a team led by Stephen Furlan.