Torys acted as counsel to Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ, as the lead lenders, in the C$413 million financing of Pattern Energy Group LP and Samsung Renewable Energy, Inc.'s 150 MW Grand Renewable Wind Farm in southwestern, Ontario.
Spread over a 25 km area between the communities of Dunnville and Hagersville, the wind project consists of 67 Ontario-made Siemens 2.3 MW wind turbines generating enough energy to power over 50,000 homes.
Construction on the facility began in September 2013 and commenced commercial operations in December 2014. The facility sells 100% of its electrical output under a 20-year power purchase agreement with the Independent Electricity System Operator.
The project is owned by Samsung Renewable Energy, Inc., Connor Clark & Lunn Infrastructure and Six Nations of the Grand River.
On September 17, 2013, Samsung Renewable Energy, Inc. (“Samsung”) and Pattern Energy Group LP (“Pattern”) announced the completion of financing for the 150 MW Grand Renewable Wind Project in Haldimand County, Ontario.
Further information on the financing can be found on Canada Newswire's website.
Grand Renewable Wind was developed together with the Grand Renewable Solar as part of the 250 MW Grand Renewable Energy Park.
Torys acted as counsel with a team that included Jonathan Weisz, Scott Kraag, Milosz Zemanek, Yinka Olusoga and Adrienne Love (project financing), Sabrina Gherbaz and Donald Roger (real estate) and Dennis Mahony (environmental).
Torys also acted on the following in connection with this project: