Samsung, Others Secure $850M For Canadian Wind Project

Law360, New York (March 24, 2014, 3:32 PM EDT) -- Samsung Renewable Energy Inc., Pattern Energy Group LP and Capital Power LP have secured $850 million in financing for the 270-megawatt K2 wind power project in Goderich, Ontario, they said Monday.

The project developers said that they secured the $850 million from 15 undisclosed financial institutions in the form of a construction loan that will ultimately convert to long-term operational debt. In addition, the developers said that work on the project, which is being performed by local workers, began on Monday.

Mike Garland, CEO of Pattern...
To view the full article, register now.