TORONTO, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the "Corporation" or "Capstone") is pleased to announce a Claresholm Solar Project financing update.
On July 9, 2020, Claresholm signed a credit agreement with ATB Financial, Fiera Infrastructure Private Debt Fund LP and Telus Pensions Liability Hedging Master Trust to provide up to $115 million of construction to term financing for the 132 MWac Claresholm Solar Project, located in the Municipal District of Willow Creek, Alberta. Along with our partner, Denmark-based Obton A/S (“Obton”), we are excited to announce that all the funding conditions have been met and construction is in full swing.
“We greatly appreciate the efforts and support of our lenders at ATB, Fiera and Telus, who also share our strong belief in the project and the province of Alberta. The financing represents a major milestone in delivering this groundbreaking project, which, when complete, will be Canada’s largest solar facility.” Andrew Kennedy, Chief Financial Officer, Capstone.
“We are also very pleased to have now secured this important financing of the Alberta solar farm Claresholm, and we appreciate the Lenders continuous support, as we can pair the climate conditions and sunny days with cutting edge solar technology. Obton is ready to invest more in similar Canadian projects over the next years." Mikkel Berthelsen, Chief Legal Officer, Obton.
“We are excited to partner with Capstone, Obton, ATB and Telus to provide financing for Claresholm Solar, helping lead Alberta’s transition to clean electricity generation and supporting one of the most significant renewable energy projects in Canada.” Andrew Shannon, Managing Director, Fiera Private Debt.
About Capstone Infrastructure Corporation
Capstone's mission is to power society, protect the environment, contribute to communities, and create value for its shareholders. Capstone owns and operates, approximately net 541 MW of installed capacity across 24 facilities in Canada, including wind, hydro, solar, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.
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Capstone Infrastructure Corporation
Chief Financial Officer