WestLB to Bring Deal For B.C. Wind Farm

By Grant Catton

January 28, 2008

WestLB is set to launch a project financing for a wind farm in British Columbia, Canada, sources said. The 150 megawatt wind farm, called the Dokie Wind Energy Project, is sponsored by renewable energy developer EarthFirst Canada Inc. The $214 million deal will include a two-year construction period and will have a 20-year final maturity, with an average life in the 10- to 13-year range. Though the deal itself has no rating, it benefits from a 20-year power purchase agreement with British Columbia-based electric utility BC Hydro, which has a rating of AA' by Standard & Poor's. The deal is expected to launch in mid-February, and to price in March.

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