Torys acted as counsel to Dexia Crédit Local, WestLB (now Portigon AG) and Caixa Nova in the C$100 million project financing of Macquarie Power & Infrastructure Fund's (now Capstone Infrastructure Corporation) Amherstburg Solar Park, a 20 MW Aten RESOP solar project in Amherstburg, Ontario.
Spread over an area of 247 acres, upon its completion the Amherstburg Solar Park was one of the largest solar power facilities in Canada, generating approximately 37,600 MWh of electricity annually, enough to power approximately 4,000 homes.
Built by SunPower Corporation on Capstone’s behalf, the facility consists of approximately 57,906 photovoltaic (PV) modules and uses SunPower's proprietary single-axis Tracker T20 system, engineered to follow the sun through-out the day.
On November 22, 2010, Dexia Credit Local S.A., WestLB and Caixa Nova completed their C$100 million project financing of the 20 MW Aten solar energy project in Amherstburg, Ontario.
The facility, which involved several RESOP contracts, was developed by a subsidiary of Macquarie Power & Infrastructure Income Fund. Macquarie contributed approximately C$33 million of equity upon the start of commercial operations, which took place in June 2011.
The power generated from the project is sold to Ontario Power Authority under a 20-year power purchase agreement.
Further information on the project can be found on Capstone Infrastructure's website.
Torys acted as counsel to the international lending syndicate with a team that included Scott Kraag, Ashley Nicol, Valerie Helbronner and Jonathan Weisz (project financing), Sabrina Gherbaz (real estate), Michael Fortier (environmental), John Tobin and Richard Johnson (tax).
Torys also acted on the following in connection with this project: