On April 18, 2023, Potentia Renewables Inc. (“Potentia”) and Greengate Power Corporation (“Greengate”) announced the closing of financing for the Paintearth Wind Project, located in Alberta. This project is owned by Potentia (75 percent) and Greengate (25 percent).
KfW IPEX-Bank, collectively with Canadian Fédération des Caisses Desjardins du Québec, will administer $250 million in construction and operational financing.
The Paintearth Wind Project will have an installed capacity of 190 MW using 38 wind and is situated 40 kilometres southeast of the Town of Stettler.
Potentia Renewables Inc., a wholly owned subsidiary of Power Sustainable Capital, is a fully integrated developer, owner, and operator of renewable energy assets.
Osler, Hoskin & Harcourt LLP advised the Paintearth Wind Project with a team consisting of Danna Donald, Marissa Kirsh, Zander McGillivray, and Claire Phillips (Construction & Infrastructure), Bryce Kustra, Jessica Yow (Real Estate), Mikulas Arendas, Samuel Alary and Samuel Julien (Financial Services).