Transactions
Selkirk arranges project financing for operating 4.8 MW Biomont landfill gas cogeneration project in Montréal
Selkirk Advisory Group Inc. (“Selkirk”) is pleased to announce closing of an $11 million non-recourse project financing for the operating 4.8 MW Biomont landfill gas cogeneration project located in Montréal, Québec (the “Project”). The Project is owned and operated by Eolectric Inc. (“Eolectric”) and utilizes landfill gas collected from the adjacent Complexe environmental de St-Michel to generate electricity and thermal energy. Electricity generated is sold to Hydro-Québec pursuant to a long-term power purchase agreement. Thermal energy is supplied to local commercial customers.
The financing is a long-term term loan maturing in 2041. Selkirk acted as arranger for the financing and is also administrative and collateral agent for the transaction.
“Selkirk’s team of experienced professionals proved instrumental in achieving a successful transaction for all stakeholders involved,” said Maxime Labrie, Vice-President, Investment at Eolectric. “Eolectric is proud to work for the well-being of future generations by developing and operating clean energy projects, such as the 4.8 MW Biomont project, in accordance with the principles of sustainable development.”
“By converting fugitive biomethane from buried waste into renewable power and heat, the Biomont Project significantly reduces greenhouse gas emissions in the heart of Montréal” said Daniel Doubilet, Managing Partner of Selkirk. “Selkirk is very pleased to have supported Eolectric on this financing. This is the third landfill gas financing Selkirk has arranged in 12 months. We are keen to continue to support the sector and to strengthen our relationship with Eolectric, a leading Canadian developer and operator of renewable energy projects.”
