Project|Solar
Arnprior Solar Project
Torys acted as counsel to Dexia Crédit Local and Union Bank lenders to affiliates of EDF EN Canada Inc. in the C$71.2 million project financing of the 23.4 MW Arnprior Solar Park near Arnprior, Ontario, involving several Ontario RESOP contracts.
Developed on two adjacent properties on the western side of the City of Ottawa as part of the Province of Ontario’s Renewable Energy Standard Offer Program, the project consists of 312,000 First Solar modules and generates enough energy to meet the peak demands of about 7,000 homes.
On January 11, 2010, EDF Renewables confirmed that the project reached commercial operation and that it executed term financing agreements for the project with Dexia and Union Bank, N.A.
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 EDF Renewables’ website.
Torys acted as counsel with a team that included Jonathan Weisz, Alison Lacy, Scott Kraag and Ashley Nicol (project financing), Don Roger (real estate) and Michael Fortier (environmental).
Torys also acted on the following in connection with this project:
| Jurisdiction | Renfrew County |
| Province/State | Ontario |
| Country | Canada |
| Nature of Engagement | Project Finance |
| Client | Dexia Crédit Local and Union Bank |
| Client Role | Lender |
| Value | $71,200,000 CAD |