Gunn’s Hill Wind Farm closes project financing with CIT Financial and Raymond James Finance

On December 29, 2015, Gunn’s Hill LP closed $50.9 million in project financing for a planned wind farm in Oxford County, Ontario. Oxford County is located in the Southwestern part of the province.

CIT Financial Ltd. acted as the Agent with respect to the financing and CIT Group Securities (Canada) Inc. acted as the Arranger (both affiliates of CIT Group), and Raymond James Finance Company of Canada Ltd. acted as the Syndication Agent.

Gunn’s Hill Wind Farm is an 18 MW wind project consisting of ten Senvion MM92 turbines in the Township of Norwich which will be the first co-operatively owned wind farm in Ontario.

RES Canada Construction (Ontario) LP is the balance of plant contractor. Gunn’s Hill LP is a partnership formed between Prowind Canada Inc. (the Canadian subsidiary of Prowind GmbH), Oxford Community Energy Co-operative Inc. and Six Nations of the Grand River.

Gunn’s Hill LP and its partners were advised by Fogler, Rubinoff LLP with a team that included Albert Engel, Lori Prokopich, Leneo Sdao, Bill Hearn, Artem Miakichev and Khalid Karim.

The agents were advised by a team from Miller Thomson LLP that included Aaron Atcheson, Peter Auvinen, Neil Harris, Farah Rohoman and Bryan Smits.