On April 27, 2022, BluEarth Renewables Inc. closed approximately CAD$170 million in non-recourse debt financing for the Hand Hills Wind Project in Alberta, Canada. The Project will comprise 29 wind turbines generating 145-MW, providing clean, renewable energy for approximately 68,000 homes annually and is anticipated to reach commercial operation in early 2023. The Project will also provide indirect revenue to the local municipality in the form of local services and supplies, and contribute significant and stable long-term property tax revenue over the life of operations. ATB Financial acted as the Administrative Agent and Coordinating Lead Arranger, with Desjardins, Royal Bank of Canada, and Siemens Financial acting as Joint Lead Arrangers. The financing includes both construction and term debt financing.
BluEarth Renewables Inc. is a leading, independent, power producer that acquires, develops, builds, owns and operates wind, hydro and solar facilities across North America.
Osler, Hoskin & Harcourt LLP represented BluEarth Renewables Inc. in the financing for the project, with a team led by Danna Donald (Project Finance) and consisting of Peter Osmond (Corporate), Bryce Kustra, and Suzanne Herceg (Real Estate).