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K2 Wind Ontario refinances K2 Wind project in $730 million financing

K2 Wind Ontario Limited Partnership, an entity owned by Axium Infrastructure Inc., completed the refinancing of the K2 Wind Project located in the Township of Ashfield-Colborne-Wawanosh in Huron County, Ontario. The K2 Wind facility is a 270 MW wind power project located near Goderich, Ontario, which was jointly developed by Samsung Renewable Energy, Pattern Energy, and Capital Power, and is recognized as one of the two largest operating wind projects in Ontario. The facility comprises 140 Siemens wind turbines and achieved commercial operation in 2015, operating under a long-term power purchase agreement with Ontario's Independent Electricity System Operator. Axium Infrastructure, a Canadian independent portfolio management firm focused on core infrastructure assets, acquired full ownership of the project through a consortium that included the Alberta Teachers' Retirement Fund, with acquisitions completed between 2016 and 2019. The refinancing was valued at $730 million and reached financial close on May 28, 2025. Stikeman Elliott LLP acted for K2 Wind Ontario Limited Partnership, while Torys LLP acted as counsel to Canadian Imperial Bank of Commerce in connection with the transaction. The project had originally been financed in 2014 through a $850 million facility arranged when it was under development by its original sponsors. The refinancing reflects continued lender confidence in operating Ontario wind assets and Axium's ongoing management of one of the province's largest renewable energy facilities.

Company

K2 Wind Ontario Limited Partnership

Company

Canadian Imperial Bank of Commerce (CIBC)

Financing/Investment
Energy
$ 730,000,000
Closed
28 May 2025