Global Infrastructure SherpaBorea Construction ULC Secures Financing for Wind Farm Project
Borea Construction ULC secured financing from National Bank of Canada and Export Development Canada (EDC) for an undisclosed wind farm project. The financing will support the development and construction of the wind farm.
Source Intelligence
The Des Neiges – Secteur sud project financing includes: A $733 million construction loan, which will convert to a term loan following the start of deliveries of electricity, scheduled for the fourth quarter of 2026; A $170 million bridge loan, allowing the financing of the refund to be received for the switchyard. This short-term facility will reduce the amount of equity capital allocated to the project in the short term and thus optimizing the overall capital structure required for the project. A $57 million guarantees facility.
"La Société de projet BVH1, s.e.n.c., consisting of affiliates of each of Boralex Inc"
"La Société de projet BVH1, s.e.n.c., consisting of affiliates of each of Boralex Inc, Énergir Développement Inc"
"La Société de projet BVH1, s.e.n.c., consisting of affiliates of each of Boralex Inc, Énergir Développement Inc and Hydro-Québec"
"The general contractor, Borea Construction, has been mobilized on site for preliminary work since December 2024."
"The Desjardins Group serves as Administrative Agent for this financing."