Wind developer required non-recourse construction and term financing for a portfolio of small wind projects located in Atlantic Canada. Each portfolio had a different legal structure and the borrower was unable to provide cross-collateralization to facilitate a larger portfolio financing and attract the attention of traditional project finance lenders.
Travelers Capital arranged the financing with a unique cash flow credit enhancement structure under four separate deals to allow a single institutional lender to meet the requirements of the developer. The lender would not have been able to finance the projects on a standalone basis, as some were considered too small. A common owner with majority control and standardized material contracts across the portfolio enabled this financing to close in a streamlined manner at a competitive cost.
A client acquired a portfolio of operating solar projects over an extended period of time and was looking for a flexible financing solution to allow them to refinance their equity for redeployment into other investments.
Travelers Capital structured a custom holdco loan solution which allowed the client to borrow in multiple tranches over an extended period without having to pay commitment fees for financing that would be required at a later date.
69 MW AC of solar farms in Canada | Holdco level financing
16 MW Hydro Project in British Columbia | Construction & Term Financing
24 MW Wind Project Portfolio in Nova Scotia | Construction & Term Financing
40 MW Wind Project Portfolio in Nova Scotia | Construction & Term Financing
8 MW Raging River Hydroelectric Power Facility | Acquisition Term Financing
7.5 MW Dorena Lake, Oregon & 4.7 MW Clark Canyon, Montana | Construction & Term Financing
8 MW of Rooftop Solar Projects | 3 Phases of Senior Term Financing