Page ContentOn June 29, 2005, Erie Shores Wind Farm Limited Partnership (Erie Shores) and its new owner, Clean Power Income Fund (Clean Power), completed the $186 million financing of the Erie Shores Wind Farm project (the project). When the project commences operations in the spring of 2006, it will be the largest wind power project in Southern Ontario consisting of 66 1.5 megawatt turbines. The project was put together by AIM PowerGen Corp. (AIM), a prominent Canadian wind power developer, in response to the Ontario government’s Request for Proposals for 300 megawatts of renewable energy in November of 2004. Clean Power completed its 100 per cent acquisition of the project from AIM contemporaneously with closing of the financing on June 29, 2005. The financing for the project is comprised of a $120 million non-recourse project loan provided by Sun Life Assurance Company of Canada and the Great-West Life Assurance Company, a $56 million equity bridge loan under Clean Power’s acquisition credit facility provided by the Bank of Nova Scotia and National Bank of Canada and a $10 million equity bridge loan from Sun Life. GE Energy has been engaged by Erie Shores as both the turbine supplier and operator of the project. The balance of plant construction contract was awarded to a joint venture of AMEC and Black&McDonald Ltd. Erie Shores has also entered into a 20-year fixed price power purchase agreement with the Ontario Electricity Financial Corp. The Bank of Nova Scotia and National Bank of Canada were represented by Borden Ladner Gervais LLP with a team comprised of Joanne Foot, Shane Pearlman, Terence Lui, Marian Bournas and Lisa Gidari (financial services), Paul McCarten and Andrew Collingwood (real estate) and William McLean (energy).