Boralex closed a $33.4 million financing for the Port Ryerse wind farm in Ontario with DZ Bank New York branch.

Long-term financing for the Port Ryerse wind farm, located on privately-owned lands east of the hamlet of Port Ryerse in Norfolk County, ON, was provided by DZ Bank New York Branch.

The financing consists of a $2 million letter of credit facility and a long-term tranche of $31.4 million. The latter will be amortized over a period of 18 years beginning December 9, 2016, the date of the project’s commercial operation.

On February 7, 2017, Boralex acquired all of the units of UDI Renewables Corporation, representing 25 % of Port Ryerse Wind Farm Limited Partnership, making Boralex the sole project holder.

Boralex develops, builds and operates renewable energy power facilities in Canada, France and the U.S.