Mitsui’s Renewable Projects in Canada Get C$795 Million Loans

Mitsui & Co. has acquired a 30 percent stake in GDF Suez Canada Inc.’s wind and solar power projects in Canada, the Japanese trading company said in a statement today that didn’t give a cost for the acquisition.

The Japan Bank for International Cooperation will provide C$477 million loans in project finance for three of the wind projects and two solar stations, the bank said in a statement.

The Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. will provide C$318 million in loans for the projects, according to JBIC.

A group led by Fiera Axium Infrastructure Inc. of Canada also has a 30 percent stake in the C$2 billion ($2 billion) projects at 12 locations, according to the statement.