Enercon Canada gets C$825.5 million of loans for Niagara wind farm

By Susanna Moon

Chicago, Nov. 2 – Enercon Canada Inc. closed C$825.5 million of non-recourse project financing for its Niagara region wind farm in Ontario, Canada.

The financing consists of a C$789.5 million construction loan that will convert into an 18-year amortizing loan after the start of commercial operations and a C$39 million letter-of-credit facility, according to a company announcement.

About C$252.4 million of the financing will be covered by a guarantee offered to the lenders by the Federal Republic of Germany through its Export Credit Agency Euler-Hermes.

The mandated lead arrangers and bookrunners are KfW IPEX-Bank, MUFG, CaixaBank, SA, Landesbank Baden-Württemberg, ABN AMRO Capital USA LLC and DZ Bank AG New York Branch.

MUFG is the administrative agent, collateral agent and account bank. KfW IPEX-Bank is the Hermes agent and technical bank. Landesbank Baden-Württemberg is the insurance agent. The documentation banks are MUFG and KfW IPEX-Bank.

Enercon Canada is a Montreal-based wind turbine design and sales company.

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