SunEdison and Germany-based Norddeutsche Landesbank Girozentrale (NORD/LB) have closed a financing deal for the 18 MW Bruining solar power plant in Ontario.
To complete the project, NORD/LB is providing a construction loan of approximately C$50.5 million, and has committed to provide up to C$63 million of long-term debt. White Canada Construction Inc. is responsible for the construction of the project. SunEdison says all materials for the project – including photovoltaic panels, inverters and electrical equipment – will be assembled in Ontario. Once operational, the Bruining plant will be managed by SunEdison.
The project is set to be completed by the end of the year, at which time it will be sold to Firelight Infrastructure Partners. The facility is expected to generate approximately 20 GWh of electricity per year, all of which will be fed directly into the energy grid.