Northland Ups Credit Facility To $600M, More Than Doubling It

Law360, New York (March 14, 2014, 4:04 PM EDT) -- Developer Northland Power Inc. said Tuesday that it's upping the ante on its corporate credit facility from $250 million to $600 million, partly in order to fund its buy-ins.

The credit consists of a $350 million revolving facility for general corporate purposes and $250 million term facility for financing Northland's investment in a 600-megawatt North Sea wind farm called project Gemini. The Toronto company recently upped its 55 percent stake by another 5 percent.

"This amendment confirms the financial community's confidence in Northland, and reflects the...
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