Transactions
Selkirk arranges project financing for portfolio of solar projects in Saskatchewan
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce closing of an approximately $5.9 million non-recourse project financing for a portfolio of four 1 MW ground-mount solar projects located in southern Saskatchewan, known as the Pisim I, Pisim II, Cossette and NM Solar projects (collectively, the “Projects”). The Projects were developed and built by Compass Renewable Energy Consulting Inc. (“Compass”) and are each majority owned by local First Nations groups. All electricity generated by the Projects will be sold to Saskatchewan Power Corporation pursuant to 20-year power purchase agreements.
“Compass and their clients benefited greatly from working with Selkirk to finance these four small projects” said Jonathan Cheszes, President of Compass. “Compass selected Selkirk due to their ability to provide a flexible solution to our clients financing needs. Selkirk and their team remained flexible and practical throughout the financing process until a successful closing. We look forward to working with them in the future.”
“It was a great experience working with the Compass team and their clients on this transaction” said Daniel Doubilet, Managing Director of Selkirk. “Small projects are often not easy to build and finance efficiently, but the Compass team brought a level of professionalism that one would expect for a much larger project. Selkirk is appreciative that Compass and the project owners chose to work with us on this transaction and we’re looking forward to continuing to build our relationship as Compass advances its impressive portfolio of development projects across Canada.”
