SunEdison has reached financial close on an 18MW PV project in Ontario.
The deal with Norddeutsche Landesbank Girozentrale (NORD/LB) includes a C$50.5 million construction loan and long-term debt of up to C$63 million.
The Bruining project is scheduled for completion before the end of 2014. It will be sold to Firelight Infrastructure Partners upon the successful conclusion of work on the plant.
“The Bruining project demonstrates SunEdison's ability to develop solar projects that bring both environmental and economic benefits to the citizens of Ontario,” said Michelle Chislett, country manager, SunEdison Canada. “By continuing to work with established capital partners like NORD/LB on projects like Bruining, we can help Ontario meet its clean energy goals.”
Bruining will be SunEdison’s eleventh project to claim Ontario’s feed-in tariff.