Date Closed

July 28, 2011

Lead Office

Montréal

Value

117.30 Million CAD

On July 28, 2011, Innergex Renewable Energy Inc. completed its C$117.3 million non-recourse project financing of its solar power project located in East-Hawkesbury, Ontario, Canada, known as the Stardale Solar Project.  With a forecasted electric output estimated at 39 GWh, the Stardale Project is projected to provide electricity to approximately 2,600 homes. The Stardale Project is being developed on two parcels of land totalling 300 acres and consists of a ground-mounted PV array system, including a total of approximately 144,060 modules and 54 inverters, for a total installed capacity of 27 MW. All electricity produced by the Stardale Project will be sold pursuant to agreements with Ontario Power Authority under the Renewable Energy Standard Offer Program for a 20 year term.  The financing was arranged by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and was syndicated.

Innergex Renewable Energy, headquartered in Longueuil, Québec,  is a developer, owner and operator of run-of-river hydroelectric facilities, wing energy, and solar farms in North America.

McCarthy Tétrault LLP acted on behalf of Innergex Renewable Energy, with a team led by Richard O'Doherty.