Torys acted as counsel to National Bank as the sole lender to Brooks Solar Corporation, a subsidiary of Elemental Energy Inc., in connection with its project financing of the 17 MW Brooks Solar Facility, the first utility-scale solar project developed in Western Canada.
Located on approximately 78 acres of privately owned land in Newell County, outside the city of Brooks, 186 km southeast of Calgary, the project consists of approximately 48,000 Jinko Solar high-efficiency Mono PERC modules.
The innovative project achieved commercial operation December 2017 and is supported by a long-term virtual purchase power agreement with Telus Communications Inc. (“TELUS”) in which TELUS will acquire all renewable electricity produced by the facility.
Further information on its initial project financing can be found on Canada Newswire’s website.
Torys acted as counsel with a team led by Scott Kraag and that included Milosz Zemanek, Jacob Weinstock and Brianna Cowling (financing).
Torys also acted on the following in connection with this project: