Conifex announces closing of funding for Mackenzie Power Project
In Canada, Conifex Power Limited Partnership reports it has closed its secured project financing its planned 36MW bioenergy power project in Mackenzie, British Columbia with a syndicate of four institutional lenders led by a Canadian chartered bank.
The financing is for an aggregate of up to $102.7 million and includes a development and construction loan for the project of up to $82 million, which will mature approximately 12 months from the closing date and convert into an amortized term loan having a term of 5 years once the conditions to conversion are satisfied. The balance of the financing is in the form of a letter of credit facility primarily to secure certain obligations of Conifex Power under its existing load displacement agreement and a $1.75 million revolving operating facility.
Category: Fuels
