Ameresco Secures $7.7 Million Financing for Solar Projects
Toronto, ON – November 17, 2011 – Energy management company, Ameresco Canada Inc., is pleased to announce that it has successfully finalized a senior secured credit facility valued at $7.7 million for two of its Ontario-based rooftop solar projects aggregating 2,069 kilowatts. The power generated from the projects will be sold to the Ontario Power Authority under the 20-year Feed-in-Tariff contracts. The senior secured credit facility was arranged and structured through Travelers Capital Corporation.
“We are pleased to be able to work with Travelers Capital Corporation to secure a construction and non-recourse permanent financing agreement for our projects as it continues to substantiate our ability to build, own and fund projects not only within Ontario but across Canada,” said Anthony DaSilva, Chief Operating Officer, Ameresco Canada.
The agreement reinforces Ameresco Canada’s ability to work in conjunction with financiers as well as their clients to structure funding solutions to ensure project realization and accomplishment.
“Being able to reach such an agreement helps ensure that projects are brought to fruition and that we can continue to work in partnership with our clients to create a greener, cleaner Canada. Through working with our clients, we’ve come to understand that financial limitations can often impede our clients from achieving their long-term green objectives. Our ability to work with our client to source financing solutions ensures that these objectives become reality,” said Mr. DaSilva.
About Ameresco Canada
Ameresco Canada Inc. is a full service energy management company that provides sustainable solutions and facility renewal services to new and existing facilities, as well as asset planning and energy and capital solutions to customers in the education, public housing, federal and provincial governments, municipalities, healthcare, industrial and commercial sectors. Ameresco Canada strives to present their clients with state-of-the-art renewable and sustainable solutions that reduce greenhouse gas emissions, conserve resources and reduce dependence on costly, non-renewable solutions by utilizing green design and construction as well as clean technologies such as solar, wind, geothermal, landfill gas, biomass, biogas and hydroelectric. For further information, visit www.ameresco.ca.
About Travelers Capital Corporation
Travelers Capital Corporation is a unit of Travelers Financial Corporation which is one of the largest independent finance and leasing companies in Canada. Travelers Capital Corporation is a financial services firm offering structured debt and project finance solutions to developers in the renewable energy sector with a focus on middle market transactions up to $100 million in size. For more information about Travelers Capital visit www.travelerscapital.com.
For media enquiries, please contact:
VP, Marketing and Business Development Services, Ameresco Canada
Managing Partner, Travelers Capital Corporation