EDP Renovaveis secures project financing for 30-MW wind farm in Canada

Jan 17, 2014 - EDP Renovaveis (ELI:EDPR), the green energy arm of Portuguese power utility EDP (ELI:EDP), has secured a CAD-45-million (USD 41.1m/EUR 30.2m) project financing for a 30-MW wind farm in Canada, the company said yesterday in a regulatory filing.

The South Branch project is located in the province of Ontario and is the firm's first wind farm in Canada.

EDP Renovaveis has obtained for the project a 20-year feed-in tariff from Ontario Power Authority. The funding is expected to occur in the first quarter of 2014.

EDP Renovaveis' financing strategy includes contracts of long-term debt in local currency at competitive prices. With the project in Canada, the company is already present in 11 markets worldwide.

(CAD 1 = USD 0.914/EUR 0.672)

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