Transactions
Selkirk arranges project financing for carbon-free microgrid at London, Ontario high school
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce closing of project financing for a carbon-free embedded energy system serving John Paul II Catholic Secondary School (“JPII”) (12,000 m2 high school) in London, Ontario (the “Project”), owned by Ameresco JPII Carbon Reduction Inc., an indirect subsidiary of Ameresco, Inc. (“Ameresco”).
The Project consists of a suite of technologies and services, including battery energy storage, carport solar photovoltaic, electric vehicle charging and geothermal heating/cooling, which together comprise a microgrid which reduce JPII’s energy consumption and greenhouse gas emissions such that JPII will be the first carbon neutral school in Canada. Ameresco developed the Project pursuant to agreement with London District Catholic School Board, who together intend for the Project to be a showcase model for other school boards across Canada.
Selkirk acted as arranger for the lender and is also administrative and collateral agent for the transaction.
“It has been so rewarding to see this uniquely financed and structured project come to fruition through our partnership with John Paul II Catholic Secondary School and additional partners, such as Selkirk Advisory Group,” said Doran Hole, Chief Financial Officer of Ameresco. “We look forward to seeing the school benefit from the energy savings and associated environmental benefits provided by the integration of several advanced technologies on this site.”
“Selkirk is grateful to have had the opportunity to participate in the successful development of this unique and important project and to continue to build its relationship with Ameresco, a leader in the cleantech, energy services and renewable energy markets in North America,” said Daniel Doubilet, Managing Director of Selkirk. “We are hopeful that JPII will be the first of many such carbon neutral building projects across multiple sectors and fully expect Ameresco to continue to be at the forefront of this space.”
