Developers Close $538 Million for 1.2 GWh Battery Storage Facility in Canada
2024-12-19 10:04
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Wedoany.com Report-Dec 19, The Hagersville Park financing qualifies as a green loan. Once commissioned, the project will be one of Canada’s largest battery energy storage (BESS) sites.
Boralex, a renewable energy company based in Québec, Canada, has successfully closed $538 million financing for a 300 MW/ 1,200 MWh BESS project, the Hagersville Park.
Located in Haldimand County, Ontario, it will be the largest BESS project to date in Canada once it reaches the commissioning stage.
Hagersville’s financing is comprised of a $366 million construction loan, a $141 million bridge loan to be repaid when the investment tax credits are received, and a $31 million letter of credit facility. Altogether, it qualifies as a Green Loan.
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