The financings, arranged by Travelers Capital Corporation and in the aggregate over $118 million, represent 52 MW of generating capacity to be constructed in a number of tranches. The first transaction, also the first financing under the Program, represents $61.4 million of non-recourse project financing for a 28 MW wind project in Nova Scotia for ScotianWEB Limited Partnership, a partnership between Scotian Wind Inc., Scotian WindFields Inc. and WEB Wind Energy North America Inc. This project consists of eight separate wind facilities that will sell 100% of their output to Nova Scotia Power Inc., a wholly-owned subsidiary of Emera Inc., under 20-year power purchase agreements. The second transaction, an innovative structure aggregating a portfolio of four wind energy projects totaling 24 MW, represents $57 million of non-recourse project financing. These projects, consisting of the following, will also sell 100% of their output to Nova Scotia Power Inc. under 20-year power purchase agreements:
  • Truro Heights Community Wind Project: located near the community of Truro, Nova Scotia the 4 MW Project is owned by Truro Heights Wind Limited Partnership, an equity partnership between the Eskasoni First Nation and Firelight Infrastructure Partners L.P.;
  • Millbrook Community Wind Project: located near the community of Truro, Nova Scotia the 6 MW Project is owned by Millbrook Wind Limited Partnership, an equity partnership between the Millbrook First Nation and Firelight Infrastructure Partners L.P.;
  • Chebucto Pockwock Community Wind Project: located in the community of Upper Hammonds Plains, Nova Scotia the 10 MW Project is owned by Pockwock Wind Limited Partnership, an equity partnership between the Chebucto Pockwock Lake Wind Field Limited, a Community Economic Development Investment Fund, and Firelight Infrastructure Partners L.P.; and
  • Whynotts Community Wind Project: located in the community of Whynotts Settlement, Nova Scotia the 4 MW Project is owned by Whynotts Wind Limited Partnership, an equity partnership between the Whynotts Mi’kmaq Wind Company, Ltd. (a company owned by and managed for the benefit of all thirteen Nova Scotia Mi’kmaq) and Firelight Infrastructure Partners L.P.