Power Sustainable Energy Infrastructure, a major renewable energy investment platform and asset management group in North America, has finalized the syndication of a loan for the Skyview 2 Battery Energy Storage Project in Canada.

KfW IPEX-Bank acted as joint lead arranger, sole bookrunner and underwriter for the C$542 million ( US$382 million ) project. Desjardins Group acted as administrative agent, collateral agent, joint lead arranger and senior lender.

Also joining the club transaction were DZ Bank, KDB and Nippon Life. Blake, Cassels & Graydon acted as legal adviser.

Skyview 2 is a lithium-ion battery energy storage facility capable of providing up to 411 megawatts / 1,560 megawatt-hours. It is located in the township of Edwardsburgh Cardinal in Ontario.

“Once operational, Skyview 2 will be the largest BESS ( battery storage energy facility ) project in Canada, delivering reliable energy to Ontario when the province needs it most,” says Pierre-Olivier Perras, managing partner at Power Sustainable Energy Infrastructure. “We're proud to reach this milestone alongside our First Nation partners and colleagues at KfW IPEX-Bank.”

This marks the fifth collaboration between KfW IPEX-Bank and Power Sustainable Energy Infrastructure, which has previously financed several wind, photovoltaic and BESS projects.