Boralex, Témiscouata announce C$206.8 million of project financing

By Lisa Kerner

Charlotte, N.C., June 26 – Boralex Inc. secured financing totaling C$206.8 million for two wind farm projects.

That amount included C$64.1 million of financing for the Témiscouata I wind farm, of which Témiscouata Regional County Municipality is a co-borrower, and C$142.7 million of financing for the Témiscouata II wind farm.

The Témiscouata I financing included a C$52 million construction loan that will be converted into a term loan with an 18-year term after the beginning of commercial operations. It also included short-term credit facilities, including bridge financing and a letter of credit facility, totaling C$12.1 million for financing certain costs incurred during construction, according to a company news release.

The Témiscouata II financing included a C$127 million construction loan that will be converted into a term loan with an 18-year term after the beginning of commercial operations. The financing also included short-term credit facilities, including bridge financing and a letter of credit facility, totaling C$15.7 million for purposes of financing certain costs incurred during construction.

KfW IPEX-Bank is the sole lender in the financings.

Boralex is a Kingsey Falls, Quebec, power generating company.

The Témiscouata Regional County Municipality oversees land development, town planning, environmental protection and regional, cultural, social and community development.

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