Penn Energy Renewables Gets $125 Million for Ontario Solar Farms

(Bloomberg) — Penn Energy Renewables Ltd., a U.S.
developer of solar farms in Ontario, closed $125 million in
loans to build three projects in the Canadian province.

Rabobank Group arranged the loans with assistance from
KeyBank National Association and National Bank of Canada, the
Bala Cynwyd, Pennsylvania-based company said Tuesday. Financial
terms weren’t disclosed.

The three solar farms — in Uxbridge, Burford and Kawartha
Lakes — will have a combined capacity of 37 megawatts and sell
power to the Ontario Power Authority under separate 20-year
contracts.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Tina Davis

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