Energy & Power
Enercon completes financing, Boralex acquires 25% in Niagara wind project
By Renée Francoeur
November 3, 2016 – Enercon Canada has closed a $825.5 million non-recourse project financing for its 230MW Niagara Region Wind Farm project in the counties of Lincoln, West Lincoln, Wainfleet and Haldimand in Ontario’s Niagara Peninsula.
The wind farm, which comprises 77 Enercon E-101 3MW wind turbines and has a 20-year feed-in tariff contract with the Independent Electricity System Operator (IESO), was commissioned on October 30, 2016. Enercon owns it along with Six Nations of the Grand River Development Corp. and Boralex Inc. will acquire 25% of Enercon’s interest in the project by December 31, 2016.
The farm created 700 jobs during construction and will create another 25 direct long-term jobs during operations, according to Enercon.