Transactions
Selkirk advises on project financing for portfolio of operating landfill gas-to-RNG projects in Quebec
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce closing of a $25 million non-recourse project financing for a portfolio of three operating landfill renewable natural gas (“RNG”) projects located in Saint-Étienne-des-Grés, Chicoutimi, and Cowansville, Quebec, with an aggregate production capacity of 666,000 GJ per year (the “Portfolio”). The Portfolio was developed and is wholly owned by Waga Energy through its Canadian subsidiary. All RNG produced is sold to a local utility pursuant to long-term offtake agreements.
The financing is a term loan maturing in 2044. Selkirk acted as financial advisor to Waga Energy for the transaction. Following closing, Selkirk is also administrative and collateral agent for the lenders.
Julie Flynn, CEO of Waga Energy Canada said “We’re really grateful of Selkirk support to have made this transaction a success and we look forward to continue the relationship with Selkirk acting as agent on this credit facility.”
“Selkirk is extremely grateful to have had the opportunity to act as financial advisor to Waga Energy for this financing” said Daniel Doubilet, Managing Partner of Selkirk. “Waga Energy is a global leader in landfill RNG, a growing and important sector. It was a pleasure working with the team. We look forward to continuing to build our relationship with Waga Energy and to supporting them on future transactions.”
