Mitsui to do renewable energy projects in Canada

Pays US$808 million for wind and solar projects.

Mitsui & Company has acquired a 30% stake in the wind and solar power projects of GDF Suez Canada Inc. in Canada

The Japan Bank for International Cooperation will provide US$485 million loans in project finance for three of the wind projects and two solar stations.

The Bank of Tokyo-Mitsubishi UFJ Ltd., Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. will provide US$323 million in loans for the projects.

A group led by Fiera Axium Infrastructure Inc. of Canada also has a 30% stake in the US$2 billion projects at 12 locations.

GDF Suez S.A. is a French multinational electric utility company that operates in the fields of electricity generation and distribution, natural gas and renewable energy.

The Japan Bank for International Cooperation or JBIC is a Japanese public financial institution and export credit agency. Its main purpose is to promote economic cooperation between Japan and overseas countries by providing resources to foreign investments and by fostering international commerce. It has a major role in promoting Japanese exports and imports.