Bayerische Landesbank, New York Branch acted as the Sole Lead Arranger, Administrative Agent, and Lender for the transaction.
Le Plateau 2 is located in the Ruisseau-Ferguson unorganized territory in the MRC d’Avignon, Quebec, Canada, approximately 300 miles east of Quebec City. The project will feature nine Enercon E-92 wind turbines, and is expected to commence operation in December of 2014.
Jim Murphy, Invenergy’s Chief Financial Officer and Chief Operating Officer, stated:
We’re pleased to complete project financing for Le Plateau 2, our first community partnership wind power generation facility in Québec. Quebec remains an area of focus for Invenergy and we look forward to opportunities where we can collaborate with local communities and to expand our ability to deliver clean energy to the province.
Le Plateau 2 is a collaboration between Invenergy and the Régie intermunicipale de l’énergie Gaspésie–Îles-de-la-Madeleine, a coalition representing MRC’s and municipalities comprising more than 90% of the Gaspésie–Îles-de-la-Madeleine administrative region. Energy output will be purchased by Hydro-Québec Distribution through a 20-year power purchase agreement.
The facility is sited nearby Invenergy’s existing 138.6 MW Le Plateau wind farm, which commenced operations in 2012. Le Plateau also has a 20-year power purchase agreement with Hydro-Québec Distribution.