Press release from CNW Group
Laurentian Bank Partnering with a Financial Consortium in the Refinancing of a Wind Park in Ontario
Wednesday, May 29, 2013
Laurentian Bank Partnering with a Financial Consortium in the Refinancing of a Wind Park in Ontario08:30 EDT Wednesday, May 29, 2013
MONTREAL, May 29, 2013 /CNW Telbec/ - Laurentian Bank is proud to announce its participation in a $130 million financial consortium involved in the refinancing of a wind farm at Kingsville in southern Ontario, located on the banks of Lake Erie.
The Gosfield wind farm project is part of the renewable energy asset portfolio of Brookfield Renewable Energy Partners, one of the largest publicly-traded, pure-play renewable power operator globally. In operation for more than two years now, the wind park is able to generate 50.6 MW of power and has clearly demonstrated its efficiency. Laurentian Bank's participation in the consortium is being led by its Energy and Infrastructures team, which has extensive specialized expertise in this field.
"We are very pleased to be taking part in this consortium for the refinancing of a project that is already well established," underlines Mr. Philippe Bergeron, Senior Manager, Energy and Infrastructures, with Laurentian Bank's Real Estate and Commercial group. "Like all forms of renewable energy, wind power is a highly promising sector that we are following closely."
Put into service in September 2010, the Gosfield wind farm is comprised of 22 2.3 MW turbines. The project is the product of a 20-year electricity purchase agreement between Brookfield and the Ontario Power Authority. There are a total of 161 wind farms operating in Canada today that are meeting 3% of the country's energy demands. The province of Ontario is the largest producer of wind-generated energy, with a total installed capacity of 2,000 MW.
About Laurentian Bank's Real Estate and Commercial Group
Composed of a number of specialized teams, Laurentian Bank's Real Estate and Commercial group focuses on several business sectors, including manufacturing, energy and infrastructure, as well as real estate. The group offers companies and developers a diverse range of business solutions tailored to their needs. Known for its expertise and agility, the team has earned a solid reputation in real estate financing and the granting of commercial loans. It offers its services via 14 offices across Canada, including those in Toronto, Vancouver, Calgary and Montréal.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has more than $34 billion in balance sheet assets and $36 billion in assets under administration. Founded in 1846, Laurentian Bank was selected in 2012 as one of the 10 winners of the Canada's Passion Capitalists program in recognition of its sustained success through the promotion of passion within its ranks. The Bank employs more than 4,200 people.
Recognized for its excellent service, proximity and simplicity, Laurentian Bank serves more than one million clients in market segments in which it holds an enviable position. In addition to occupying a choice position among consumers in Québec, where it operates the third largest branch network, the Bank has built a solid reputation across Canada in the area of real estate and business financing thanks to its teams working out of more than 35 offices in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank, is a Canadian leader in providing banking products as well as investment accounts and services to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker, widely recognized for its expertise and effectiveness nationwide.
SOURCE: Laurentian Bank of Canada
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514 284-4500, extension 4695