Laurentian Bank joins $130M group refinancing Ontario wind farm
A wind turbine farm owned by PacifiCorp stands near Glenrock, Wyo., Monday, May 6, 2013. (AP / Matt Young)
The Canadian Press
Published Wednesday, May 29, 2013 11:14AM EDT
MONTREAL -- Laurentian Bank of Canada (TSX:LB) says it will be part of a $130-million financial consortium that will refinance a wind farm in Ontario.
The Gosfield wind farm project in Kingsville, Ont., is part of the renewable energy asset portfolio of Brookfield Renewable Energy Partners.
It's been operating for more than two years on the banks of Lake Erie and is able to generate 50.6 megawatts of power.
The Ontario government has put an emphasis on developing wind farms and other forms of green energy, but some projects have met opposition from local residents who complain about the impact they claim wind turbines can have on their health.
The Gosfield farm falls under a 20-year electricity purchase agreement between Brookfield and the Ontario Power Authority.