On April 18, 2023, Potentia Renewables Inc. (“Potentia”) and Greengate Power Corporation (“Greengate”) announced the closing of financing for the Paintearth Wind Project, an Alberta-based project with an installed capacity of 190 MW using 38 wind.

Potentia owns 75 percent of the project and Greengate owns the remaining 25 percent.

KfW IPEX-Bank, collectively with Canadian Fédération des Caisses Desjardins du Québec, will administer $250 million in construction and operational financing.

Osler, Hoskin & Harcourt LLP advised the Paintearth Wind Project with a team consisting of Danna Donald, Marissa Kirsh, Zander McGillivray, and Claire Phillips (Construction & Infrastructure), Bryce Kustra, Jessica Yow (Real Estate), Mikulas Arendas, Samuel Alary and Samuel Julien (Financial Services).