Skypower and Fermeuse Wind Power Complete $43M Project Financing With WestLB

Fermeuse Wind Power Corp. and its sponsor and owner, Skypower Corp., completed a $43-million project financing in respect of the Fermeuse Wind Power Project on September 3, 2008. When completed, the project will consist of a 27 MW wind power generation project located in Fermeuse, Newfoundland and Labrador. WestLB AG, Toronto Branch, provided the financing, which consisted of secured construction and term debt facilities, including a working capital and letter of credit facility. WestLB is the sole arranger, administrative agent and collateral agent.

SkyPower Corp. and Fermeuse Wind Power Corp. were represented by in-house counsel Richard Guttman and a team from McCarthy Tétrault LLP's Québec City, Toronto and Vancouver offices consisting of Marc Dorion, Stephen Furlan, Kim Thomassin, Louis-Nicolas Boulanger and Jo-Anna Brimmer (banking and finance); Jim Titerle (environmental and permitting) and Stewart McKelvey in the Province of Newfoundland and Labrador with a team consisting of Maureen Ryan, Stephen Winter and Jonathan Dale.

WestLB AG was represented by Baker & McKenzie LLP's New York and Toronto offices with a team consisting of Ata Dinlenc, Alex C. Roberts, Matthew Sandiford, Matthew Kindree and Nathan Reed (banking and finance); Mark Richardson (real estate) and Jonathan Cocker (environmental and permitting) and Stewart McKelvey in the Province of Newfoundland and Labrador with a team consisting of Bruce Grant, QC, Neil Jacobs and Steven Scruton.