Transactions
Selkirk advises on holdco-level financing for 184 MW portfolio of wind projects in Nova Scotia
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce closing of an approximately $17 million non-recourse holdco-level financing for Stevens Wind Ltd. (“Stevens”), a developer of wind power projects in Nova Scotia. The loan will finance the majority of Stevens’ share of power purchase agreement performance security and equity contribution obligations in respect of a significant minority interest in two wind projects – the 100 MW Higgins Mountain wind project and 84 MW Wedgeport wind project. Selkirk acted as financial advisor to Stevens for purposes of the transaction.
“Selkirk’s credibility with renewable energy funds and entrepreneurial grit enabled us to maintain significant ownership in the two wind projects we initiated and developed totaling 184 MW” said Paul Pynn, principal of Stevens Wind.
“The Selkirk team is proud to have assisted Stevens with this unique financing, which provides a highly cost-effective way for Stevens as minority owner to participate long-term in these two large projects” said Dan Doubilet, Managing Director of Selkirk. “We are looking forward to seeing Stevens and their partners complete development of the projects and to assisting the Stevens team with future transactions.”
