Travelers Capital Corporation Arranges Project Financing for 24 MW Wind Energy Project Portfolio in Nova Scotia

VANCOUVER, June 13, 2014 /CNW/ - Travelers Capital Corporation is pleased to announce that it has successfully arranged $57 million of non-recourse project financing for a portfolio of four wind energy projects in Nova Scotia aggregating 24 MW (the "Projects"). The Projects were developed by juwi Wind Canada and sold its minority or majority control in each Project to Firelight Infrastructure Partners prior to construction.  The Projects consist of the following:

(i)		Truro Heights Community Wind Project: located near the community of Truro, Nova Scotia the 4 MW Project is owned by Truro Heights Wind Limited Partnership, an equity partnership between the Eskasoni First Nation and Firelight Infrastructure Partners L.P.;
(ii)		Millbrook Community Wind Project: located near the community of Truro, Nova Scotia the 6 MW Project is owned by Millbrook Wind Limited Partnership, an equity partnership between the Millbrook First Nation and Firelight Infrastructure Partners L.P.;
(iii)		Chebucto Pockwock Community Wind Project: located in the community of Upper Hammonds Plains, Nova Scotia the 10 MW Project is owned by Pockwock Wind Limited Partnership, an equity partnership between the Chebucto Pockwock Lake Wind Field Limited, a Community Economic Development Investment Fund, and Firelight Infrastructure Partners L.P. and
(iv)		Whynotts Community Wind Project: located in the community of Whynotts Settlement, Nova Scotia the 4 MW Project is owned by Whynotts Wind Limited Partnership, an equity partnership between the Whynotts Mi'kmaq Wind Company, LTD (a company owned by and managed for the benefit of all thirteen Nova Scotia Mi'kmaq) and Firelight Infrastructure Partners L.P.

The Projects will sell 100% of their output to Nova Scotia Power Inc., a wholly-owned subsidiary of Emera Inc., under 20-year power purchase agreements.

The non-recourse project financing was structured and arranged by Travelers Capital Corporation, acting as loan agent and security agent, and was funded by Industrial Alliance Insurance and Financial Services Inc. "Travelers Capital is pleased to have been selected by juwi to arrange the construction and long term financing for these wind Projects developed under the Community Feed-In-Tariff ("COMFIT") Program in Nova Scotia," said Mark Bohn, Managing Partner of Travelers Capital Corporation. "We were able to provide our client with a creative financing solution which enabled the financing to be provided by one lender for four separate legal entities."

"juwi is proud to see many years of our development efforts culminate in this key milestone," states Ilan Caplan, Director of Finance at juwi.  "Travelers was integral in completing this complex transaction and bringing Industrial Alliance to the opportunity.  We are all especially fortunate to work with excellent community partners/owners (listed above) as well as Firelight Infrastructure Partners and their keen industry insight and capital."

About Travelers Capital

Travelers Capital Corporation is a specialized financial services company that offers structured debt and project finance solutions along with financial advisory services to developers in the renewable energy sector with a focus on middle market transactions up to $100 million or more in size.

Additional information on Travelers is available on the company's website at www.travelerscapital.com.

About juwi Group

Founded in 1996 by two entrepreneurs in Wörrstadt, Germany, the privately held juwi Group has more than 18 years of experience developing, financing, building and operating renewable energy projects.  The juwi Group employs more than 1,800 people globally and is currently active in renewable energy development on five continents.  Since 1996, the juwi Group has overseen the installation of over 150 wind projects, totaling more than 1,450 MW of operating capacity, and over 1,500 solar photovoltaic installations, totaling more than 1,200 MW of operating capacity.

juwi's North American office is located in Boulder, Colorado and is primarily involved in the development, design, construction and operation of wind and solar energy generation facilities in North America. To date, juwi's North American subsidiaries have successfully developed, sold or financed over 450 MW of wind projects and successfully developed and built more than 100 MW of solar operating capacity.

Additional information about juwi's North American wind projects is available at www.juwinorthamerica.com

About Firelight Infrastructure Partners

Firelight Infrastructure Partners is a Canadian partnership that invests in North American renewable energy projects including wind, hydro and solar. Firelight partners with experienced developers to provide the capital necessary to develop, construct and operate high quality renewable energy projects. It has an operational portfolio of 150 MW and an additional 130 MW in development and/or under construction.

With $335 million of committed capital, Firelight matches its financial strength and industry knowledge with the technical expertise of its partners. Working with experienced teams and proven technologies, Firelight is building a sustainable portfolio of renewable energy projects that make a positive contribution to stronger economies and a cleaner environment.

Investments made by Firelight have brought clean power to local communities in Prince Edward Island, Nova Scotia and Ontario.

Additional information about Firelight is available on the company's website at www.firelightlp.com

SOURCE: Travelers

Mark Bohn, Managing Partner, Travelers Capital Corporation, Phone: [phone] or email: [email protected] OrIlan Caplan, Director of Finance, juwi Wind, Phone: [phone] or email: [email protected]