On March 31, 2021, Saturn Power Inc. (“Saturn Power”) secured a $14 million term loan from CWB Maxium, on a project finance basis, to fund the construction of its Highfield Solar Project, Saskatchewan’s first industrial-sized solar facility. First announced in 2018, the Highfield Solar Project is expected to provide 10MW AC of solar energy to Saskatchewan’s energy supply through a Power Purchase Agreement with SaskPower, and has already begun construction in collaboration with miEnergy, a renewable energy solutions provider, since fall 2020.
Saturn Power, founded in 2007 and based in Baden, Ontario, Canada, has over 600 MW of renewable energy generation and storage projects in development, built or operating, including solar, battery storage and wind power projects in Canada, Bermuda, the United States and Turkey.
Miller Thomson advised Saturn Power in the project financing with a team comprised of Aaron Atcheson and Katlyn Cooper (Projects).
