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Boralex Secures CAD 95 Million Financing for 52-MW Wind Farm in Quebec, Boosting Renewable Energy Efforts.

Canadian renewable power producer Boralex Inc (TSE:BLX) has secured a CAD-95-million financing deal for the operation of a 52-MW wind farm in Quebec. The deal includes a $69.8m ($69/EUR 62.8 million) loan and a $9.7-million letter of credit facility for guarantees under contracts with utility Hydro-Quebec and financing reserves. The debt was provided by financial service cooperative Desjardins and extended a term loan of CAD 85 million and a letter of Credit Facility. The long-term financing component includes interest at a fixed interest rate hedging arrangement and a swap option with a cash back to cover the debt’s interest rate risk and reward environmental targets.

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