Kruger Energy Port Alma Limited Partnership completes financing of a 101.2 mw wind farm project
Date Closed
April 25, 2008
Lead Office
Montréal
Value
196.40 Million CAD
Kruger Energy Port Alma Limited Partnership ("KEPA"), a special purpose limited partnership, was formed by Kruger Products Limited, a subsidiary of Kruger Inc., for the development, construction and operation of a wind farm on the north shore of Lake Erie in the Municipality of Chatham Kent with a name plate capacity of 101.2 MW.
On April 25, 2008, in order to finance the project costs, KEPA completed a credit agreement with a syndicate of lenders represented by The Bank of Nova Scotia ("BNS"), as agent, to provide a construction loan and a term loan of up to C$184 million, as well as a letter of credit facility of up to C$12.4 million.
Kruger Inc. is a Canadian corporation which manufactures publication papers, tissue, lumber and other wood products, corrugated cartons from recycled fibres, green and renewable energy, and wines and spirits.
McCarthy Tétrault LLP represented KEPA, with a team led by Robert Doyle.