Laurentian Bank Partnering with a Financial Consortium in the Refinancing of a
Wind Park in Ontario
MONTREAL, May 29, 2013 /CNW Telbec/ - Laurentian Bank is proud to announce its
participation in a $130 million financial consortium involved in the
refinancing of a wind farm at Kingsville in southern Ontario, located on the
banks of Lake Erie.
The Gosfield wind farm project is part of the renewable energy asset portfolio
of Brookfield Renewable Energy Partners, one of the largest publicly-traded,
pure-play renewable power operator globally. In operation for more than two
years now, the wind park is able to generate 50.6 MW of power and has clearly
demonstrated its efficiency. Laurentian Bank's participation in the consortium
is being led by its Energy and Infrastructures team, which has extensive
specialized expertise in this field.
"We are very pleased to be taking part in this consortium for the refinancing
of a project that is already well established," underlines Mr. Philippe
Bergeron, Senior Manager, Energy and Infrastructures, with Laurentian Bank's
Real Estate and Commercial group. "Like all forms of renewable energy, wind
power is a highly promising sector that we are following closely."
Put into service in September 2010, the Gosfield wind farm is comprised of 22
2.3 MW turbines. The project is the product of a 20-year electricity purchase
agreement between Brookfield and the Ontario Power Authority. There are a
total of 161 wind farms operating in Canada today that are meeting 3% of the
country's energy demands. The province of Ontario is the largest producer of
wind-generated energy, with a total installed capacity of 2,000 MW.
About Laurentian Bank's Real Estate and Commercial Group
Composed of a number of specialized teams, Laurentian Bank's Real Estate and
Commercial group focuses on several business sectors, including manufacturing,
energy and infrastructure, as well as real estate. The group offers companies
and developers a diverse range of business solutions tailored to their needs.
Known for its expertise and agility, the team has earned a solid reputation in
real estate financing and the granting of commercial loans. It offers its
services via 14 offices across Canada, including those in Toronto, Vancouver,
Calgary and Montréal.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has more
than $34 billion in balance sheet assets and $36billion in assets under
administration. Founded in 1846, Laurentian Bank was selected in 2012 as one
of the 10 winners of the Canada's Passion Capitalists program in recognition
of its sustained success through the promotion of passion within its ranks.
The Bank employs more than 4,200 people.
Recognized for its excellent service, proximity and simplicity, Laurentian
Bank serves more than one million clients in market segments in which it holds
an enviable position. In addition to occupying a choice position among
consumers in Québec, where it operates the third largest branch network, the
Bank has built a solid reputation across Canada in the area of real estate and
business financing thanks to its teams working out of more than 35 offices in
Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank, is a
Canadian leader in providing banking products as well as investment accounts
and services to financial advisors and brokers, while Laurentian Bank
Securities is an integrated broker, widely recognized for its expertise and
Mary-Claude Tardif Public Relations Advisor 514 284-4500, extension 4695
SOURCE: Laurentian Bank of Canada
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CO: Laurentian Bank of Canada
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-0- May/29/2013 12:30 GMT
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