KfW IPEX-Bank to provide USD 482m for onshore wind projects in Canada

Wind turbines in Canada. Image by: Potential Renewables (www.potentiarenewables.com).

April 6 (Renewables Now) - Germany's KfW IPEX-Bank will provide around CAD 600 million (USD 482.2m/EUR 439.6m) in debt capital to finance the construction and operation of five onshore wind projects of a combined 548 MW in the Canadian province of Alberta.

The project bundle includes the Jenner 1, 2 and 3 wind farms that are being built north of the village of Jenner and east of the town of Brooks. With 55 Enercon turbines totalling 305 MW, the three parks are expected to go online in 2022 and 2023.

The two other projects in the portfolio are the Stirling wind farm, northeast of the village of the same name, and the Wheatland wind farm, located southeast of the town of Drumheller. The two parks will comprise 47 Siemens Gamesa machines with a combined capacity of 243 MW.

The electricity produced by Jenner 1 and 2 and the Stirling wind farm will be marketed under 20-year power purchase agreements (PPAs) with the grid operator of the province Alberta AESO.

The five projects are being developed by Toronto-based green power producer Potentia Renewables Inc.

The financing for the five facilities is covered by Danish export credit insurance EKF and Germany's Euler Hermes.

(CAD 1 = USD 0.804/EUR 0.733)

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