Cordelio Power Advances Glacier Sands into Commercial Operations

News provided by

Dec 07, 2021, 09:30 ET

TORONTO, Dec. 7, 2021 /PRNewswire/ - Cordelio Power is pleased to announce that the 185 MW Glacier Sands wind project has advanced into commercial operations. The project, located in Mason County, Illinois, is comprised of 43 Vestas V150-4.3 wind turbines. The wind farm will sell 100% of its renewable energy under a 15-year contract with Microsoft.

"We're excited to commence operations at Glacier Sands, the inaugural project in Cordelio's new US growth phase," said Paul Rapp, Cordelio's Chief Operating Officer. "We are grateful for the trust and support for the project by the county officials and the residents of Mason County, and we also appreciate the strong contributions of Vestas, White Construction, a subsidiary of Infrastructure and Energy Alternatives, and K2 Management toward building this project."

Simultaneously with commercial operations, the Glacier Sands project financing was completed. Cordelio's tax equity partner, Berkshire Hathaway Energy Investment Group, has funded its initial investment, and the remaining portion of the original construction loan has been converted into a term loan coordinated by Rabobank and provided by affiliates of Rabobank, Bank of Montreal, National Bank of Canada, and MUFG.

About Cordelio Power

Cordelio is a growing renewable power producer that manages an operating portfolio of over 1,200 MW of renewable power assets across Canada and the USA. We also oversee a growth pipeline of over 6,500 MW of wind, solar and storage projects focused in the western and midwestern US. We perform all of our operations and growth activities with a view toward working with all stakeholders in an efficient, safe and environmentally responsible manner. Cordelio is wholly owned by Canada Pension Plan Investment Board.

Forward Looking Statements & Information

Certain information contained in this news release constitutes forward-looking information or forward-looking statements (collectively, "forward-looking statements"). All statements other than statements of historical fact are forward–looking statements. Forward–looking statements typically contain words such as "anticipate", "believe", "confirms", "continuous", "estimate", "expect", "may", "plan", "project", "should", "will", or similar words suggesting future outcomes, and include without limitation, all financial projections, estimates of future costs, and projected performance or results. Forward-looking statements by their nature are subject to risks, assumptions and uncertainties which may cause the actual outcomes of such events to differ from Cordelio's expectation as of the date hereof, and whether forward-looking statements ultimately prove to be accurate will depend on factors outside of the control of Cordelio. Readers are encouraged to undertake their own analysis and investigation as to the reasonableness of any such forward-looking statements. Forward-looking statements contained in this news release are made as at the date of this news release and Cordelio disclaims any intent or obligation to update or to revise any of the included forward-looking statements.

SOURCE Cordelio Power