Northland Financing of Solar Power Projects

Subsidiaries of Northland Power Inc. concurrently completed project financing of up to an aggregate of $88.5 million to finance the construction and operation of two solar power projects, each being a 10 megawatt nameplate capacity ground-mounted solar photovoltaic project situated in the Province of Ontario.

The credit facility was arranged by Union Bank, Canada Branch with Union Bank, Canada Branch also acting as coordinating lead arranger, bookrunner, syndication agent and as administrative agent for the lenders consisting of Union Bank and Siemens Financial Ltd. (collectively, the lenders).

Northland was represented by Borden Ladner Gervais LLP with a team that included Linda Bertoldi (energy), Bruce Fowler (finance), Stephen Redican (finance), Adam Chamberlain (energy), Brennan Carroll (real property), Tiffany Murray (finance), John Vellone (energy) and Jenna Grant (finance).

The lenders were represented by McCarthy Tétrault LLP with a team of Stephen Furlan, Lynn Parsons, Bobby Wang and Kerri Lui (finance); Michael Weizman and Héloïse Apestéguy-Reux (energy) and Patrick Kee (real property).