On June 6, 2011, Starwood SSM3 Canada, LP (Starwood) reached financial close on a 10 MW AC solar photovoltaic project situated in Sault Ste. Marie, Ontario.
The closing of this deal marks the third major solar project in Ontario for Starwood and follows Starwood’s 20 MW AC Starwood SSM1 solar plant, which closed financing in December 2009 and the 30 MW AC solar photovoltaic project for Starwood SSM2 Canada Inc., which closed financing in September 2010.
The project construction financing and long-term loan facility is being provided by Nord/LB. Q-Cells North America will construct the project and provide operations and maintenance services post-completion.
Starwood is a subsidiary of Starwood Energy Group Global, LLC, a U.S. private equity firm that specializes in energy infrastructure investments.