We are proud to announce our first refinancing in North America!
Waga Energy has secured a CA$25 million project finance loan with a 19-year maturity from Canadian life insurance companies Equitable Life and Empire Life.
This financing will refinance three of our RNG production units in Québec – located in Saint-Étienne-des-Grés, Chicoutimi, and Cowansville – with a combined capacity of 185 GWh per year.
Beyond repaying construction debt, this refinancing strengthens our financial position and supports the acceleration of our development in Canada and internationally.
A big thank you to our trusted partners for making this possible : McCarthy Tétrault (legal advisor to Waga Energy)️, Stikeman Elliott (legal advisor to the lenders), Selkirk Advisory (financial advisor to Waga Energy)
As of today, Waga Energy operates 7 WAGABOX® units in North America and is building 13 more across Canada and the United States.
This new step confirms the strength of our model and our long-term commitment to producing Renewable Natural Gas from landfill sites.
“We are grateful to Equitable and Empire Life, two leading Canadian financial services companies, for their trust and support. Securing our first non-recourse project finance in Canada marks a significant milestone for Waga Energy. The longest maturity ever achieved on this loan by Waga Energy is a strong endorsement of the strength of our business model and our proven ability to generate predictable, longterm cashflows through contracted operations.”
Jean-Michel Thibaud, Deputy CEO and Chief Financial Officer of Waga Energy