Fiera Private Debt has recently announced the financing of a CA$25.0 million senior secured credit facility to BioNorth Holdings Limited Partnership to fund the acquisition and long-term operation of the Fort St. James Green Energy Project, located in Fort St. James, British Columbia.
BioNorth is a joint-venture partnership between the Arrow Group of Companies, the Nak’azdli Whut’en, and the low-carbon infrastructure developer, Nexus Program Management Group, LLC.
The 40-megawatt biomass power generation facility began commercial operations in late 2017 under a 30-year electricity purchase agreement with BC Hydro. The facility ceased operations in June 2021 with over 26 years remaining on the electricity purchase agreement. Following minor recommissioning activities, the generation station was back online in January 2022, generating clean power for British Columbians.
