SkyPower has secured a CAD$67 million revolving credit facility from Deutsche Bank, to be used to support the ongoing development of SkyPower's portfolio of utility-scale solar projects in Ontario, Canada. The facility is a letter credit facility innovatively structured to leverage the benefits of Ontario's green energy program and feed-in tariff, according to the companies.
In 2010, the two companies signed a CAD$110 million solar financing deal that supported the completion of three utility-scale PV projects, with a cumulative nameplate capacity of 30MW, in the province.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
“This agreement with Deutsche Bank gives us further flexibility to expand our presence in the Ontario Feed-in Tariff market. This will mean the creation of thousands of new solar jobs in the areas of manufacturing, engineering, construction and environmental sciences,” says Kerry Adler, president/CEO of SkyPower.
SkyPower said it is Canada's largest owner and developer of solar energy projects, with 250MW of awarded power purchase contracts, 40MW of installed operating capacity, 30MW of projects actively under construction, and over 1.5GW at advanced stages of development across North America.