GATINEAU, QUEBEC, Nov 30 (MARKET WIRE) -- Brookfield Power Inc. (BPI) announces the closing of a C$300 million bank facility in connection with its 189-MW Prince Wind Project through a wholly-owned subsidiary, Brookfield Power Wind Prince Financial Corporation. Proceeds of the financing will be used to repay the existing construction credit facility for Prince Wind.
Prince Wind, the largest operating wind farm in Canada with 126 wind turbines situated on nearly 20,000 acres overlooking Lake Superior northwest of Sault Ste. Marie, is capable of producing enough clean, renewable energy to power 40,000 homes annually. The wind farm was commissioned during the fourth quarter of 2006 and has been fully operational for one year. All the energy produced by Prince Wind is sold to the Ontario Power Authority under long-term power purchase contracts expiring between 2026 and 2028.
Prince Wind is being financed with a five year floating rate bank facility, which is secured by the Prince Wind assets and is non-recourse to BPI. Payments of interest and principal will be made quarterly pursuant to amortization matched to coincide with the termination of the last power purchase agreement in 2028. BPI intends to substantially hedge the bank facility's floating interest rate to a fixed rate.
The financing was provided by a syndicate of lenders co-led by The Bank of Nova Scotia and Dexia Credit Local S.A, and was pre-syndicated as of financial close to include ABN Amro N.V., Bank of Tokyo-Mitsubishi UFJ, Fortis Capital and Sumitomo Mitsui Banking Corporation of Canada.
About Brookfield Power
Brookfield Power comprises the power generating and marketing operations of Brookfield Asset Management Inc. Brookfield Power has developed and successfully operated hydroelectric power facilities for over 100 years. Brookfield Power's portfolio comprises almost 3,900 megawatts of capacity and includes 157 hydroelectric power generating stations on 60 river systems, 1 wind farm, and 2 thermal plants, principally in the northeastern North America and South America. (See www.brookfieldpower.com for more details). Brookfield Asset Management Inc., focused on property, power and infrastructure assets, has approximately US$90 billion of assets under management and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM. (See www.brookfield.com for more details). Contacts: Brookfield Power Grace Pollock Director, Investor Relations
Search Alternative Energy Stocks, Renewable Power Investing Info
Clean Geen Power Mutual Funds and Investments
Find Green Energy Funds, Renewable Energy Stocks, Clean Power Investments
Search Green Energy Stocks Investing Network:
CAUTION: Investing in common stocks of publicly-listed companies is a high risk (and high potential reward) activity. Owning investments in individual renewable energy technology companies is for high risk investors only, and medium risk investors should consider green mutual funds, closed-end clean energy funds, alternative energy index funds and other clean energy sector investments. Even then, these funds should be owned as part of a widely diversified portfolio, and always be considered as longer term investments.
Alternative energy stocks and other renewable power investments are a core component of ethical investing portfolios. Find info on Alternative Energy websites, research solar power, locate renewable power information and solar energy companies online. Links to info on clean fuels, solar power as a peace technology, solar energy stocks and clean power mutual funds.
Clean Energy Website Information Network
Find green power alternative energy solutions, clean energy stocks, water technology stocks, water purification companies, water desalination technology and photovoltaic solar electric power company websites:
Find Green Energy Funds, Renewable Energy Stocks, Clean Power Investments
Search Green Energy Stocks Investing Network:
Custom Search
Alternative energy stocks and other renewable power investments are a core component of ethical investing portfolios. Find info on Alternative Energy websites, research solar power, locate renewable power information and solar energy companies online. Links to info on clean fuels, solar power as a peace technology, solar energy stocks and clean power mutual funds.
Clean Energy Website Information Network
Find green power alternative energy solutions, clean energy stocks, water technology stocks, water purification companies, water desalination technology and photovoltaic solar electric power company websites:
Custom Search
Subscribe to:
Post Comments (Atom)
Search Alternative Energy Investing Websites
WARNING: Investing in common equity of public companies is a high risk, high potential reward activity. Owning investments in individual alternative energy companies is for high risk investors only, and medium risk investors should consider green mutual funds, clean energy funds, renewable power index funds and other sector plays. Even then, these should be owned as part of a widely diversified portfolio. There is a gathering mania for investing in publicly-traded alternative energy companies, similar to the computer, technology, internet and banking / real estate booms of the past two decades. There will be some nasty corrections along the way, and some years from now when they come crashing down en masse, the world will still benefit from all the amazingly advanced clean and efficient energy technology created during the bull run. (Above note re-written March 2009 as my earlier prediction of a market top and a crash in the sector starting in August '09 was hastened by the credit markets collapse and began in August 2008, before the bubble had fully formed. Of all the sectors in the equity markets, clean energy has the best prospects to assume market leadership and public favour; we are bouncing aong the bottom still, and those who have followed our guidance to begin including (in a judiciously blended portfolio of cash, bonds, stocks and yes, um... real estate) green energy investment funds dollar-cost-averaging programs in Winter and Spring of 2009 are well positioned for longterm capital growth.)
Search for renewable energy investing info, find renewable energy investments, clean power mutual funds, wind systems for home, farm, business and cottages, home power generators, photovoltaic solar panels, publicly-listed windpower companies, alternative energy investing, biomass / biofuels research, renewable energy mutual funds, green investments.
Custom Search
No comments:
Post a Comment