Éoliennes de l'Érables Inc., a wholly owned subsidiary of Elecnor SA, completed its financing for its De l'Érable wind farm project of 100 MW located in the Province of Quebec pursuant to a $250 million senior secured construction and term loan facility provided by a lending syndicate comprised of Sun Life Assurance Company of Canada, Industrial Alliance Insurance and Financial Services Inc., The Manufacturers Life Insurance Company and The Great-West Life Assurance Company with National Bank Financial Inc. acting as agent on their behalf.
The energy produced by the wind farm project will be delivered to Hydro-Quebec Distribution under a 20 years Electricity Supply Contract.
Elecnor is a Spanish developer of infrastructure, renewable energy and new technology projects. It employs 11,000 people and is present in more than 20 countries.
Elecnor was represented by in-house counsels Alicia Juristo Contreras and Iñigo Orbegozo Urcelay and assisted by a team at Stikeman Elliott LLP comprising Erik Richer La Flèche, Sterling Dietze, Lana Rabinovitch (financing); Bertrand Ménard (real estate); Ma Ry Tran (projects); Mathieu Halpin (tax) and Olivier Boulva (corporate).
National Bank Financial Inc., acting as agent on behalf of the lenders, was represented by Antony Lawrence and assisted by McCarthy Tétrault LLP with a team comprising Marc Dorion, Philippe Leclerc, Richard O'Doherty, Louis-Nicolas Boulanger and Laurent Gauthier (financing); Danielle Drolet, Valérie Mac-Seing, Marie-Pier Gosselin and Jean-Félix Robitaille (real estate); Marc-Alexandre Hudon (Aboriginal); Mathieu Leblanc (energy) and Dominique Amyot-Bilodeau (environmental).