Manulife Financial last week announced it has completed USD 179 million financing with Invenergy Wind North America for the development of a 78 MW wind farm in Ontario, Canada.

In order to provide the fincning, Manulife formed a syndicate providing USD 175 million for construction and term loans, and another USD 4 million as support for the project. Manulife is the lead agent and lender with an investment amount of USD 88 million.

The Raleigh Wind Project is located about 13 km south of Chatham. It will feature 53 GE 1.5xl units with rotors having 82.5 meters in diameter. All clean electricity generated by the wind farm will be sold into the Ontario IESO competitive wholesale market for a period of twenty years.

Manulife Financial has already worked with Invenergy on other projects in the past, in Montana, Colorado and Idaho.

[source: Manulife Financing, image: Invenergy]