Wind power project receives $246mn financing

Elecnor received C$250 million ($246 million) in financing for the development of the 100 MW L'Erable wind farm currently being built in Quebec, Canada.

The financing consists of a syndicated loan entered into exclusively by Canadian companies. National Bank Financial and Sun Life Assurance acted as the co-underwriters for the financing.

The L'Erable project was awarded by Hydro-Québec, which also signed a 20-year power purchase agreement for the output from the project. The plant is expected to be in operations within the next 18 months and will use 50, 2 MW Enercon wind turbines.

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