|By Marketwired .||
|June 17, 2014 04:05 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/17/14 -- Export Development Canada (EDC) today announced financing of EUR 125 M for Toronto-based clean energy company Northland Power (Northland), the largest loan EDC has ever provided in the wind power sector.
EDC is Canada's leading provider of financing, insurance and bonding for Canadian companies of all sizes that do business outside of Canada.
Clean technology is an area of corporate priority at EDC, with a dedicated team to focus on understanding the industry's needs and delivering the right solutions to help Canadian cleantech companies start up and grow their business internationally.
"Canadian companies like Northland have the potential to become world leaders in the cleantech space, and these are the type of companies that EDC wants to invest in to help them through every step of the way," said Al Hamdani, Vice-President, Structured and Project Finance.
"When Northland grows, the potential of the entire Canadian cleantech sector grows along with it, which is an important economic benefit, but the environmental benefit of these technologies is an investment that will pay meaningful global dividends for decades to come," added Mr. Hamdani.
The financing will be used by Northland to purchase a 60 per cent ownership stake in Project Gemini, a 600 MW offshore wind farm in the Dutch North Sea. Once completed in 2017, Project Gemini will be the second largest wind farm in the world, and the largest in the North Sea.
In addition to EDC, ten international commercial banks were involved in securing the total EUR 2.8 B term loan, including the Bank of Montreal and CIBC. Project sponsors include Siemens, Van Oord Dredging and Marine Contractors BV and NV HVC, each contributing EUR 400 million in equity.
"We are very pleased with the extraordinary effort put forth by the project's financiers, as financial close was achieved in record time for a project of this nature," said Northland CEO John Brace. "As the largest project financing in the offshore wind sector, this transaction validates the high quality of the project and illustrates Northland's evolution from a leading Canadian power producer to an international company taking on world-class projects."
Once constructed, Project Gemini will provide enough clean energy to supply the needs of 1.5 million people annually while reducing 1,250,000 tons of CO2 emissions per year.
Project Gemini is owned by a consortium of Northland Power (60 per cent), Siemens Financial Services (20 per cent), Van Oord Dredging and Marine Contractors BV (10 per cent) and N.V. HVC (10 per cent).
In 2012, Canadian cleantech revenues were CAD 9.1 billion and are expected to reach CAD 60 billion in the next 10 years. Most of these companies derive more than half their sales from exports. As a result, EDC has made the cleantech industry a corporate priority. In 2012, EDC supported 33 cleantech transactions with a dedicated team to focus on understanding the industry's needs.
EDC is Canada's export credit agency, providing financing and insurance solutions locally and around the world to help Canadian companies of any size respond to international business opportunities. As a profitable Crown corporation that operates on commercial principles, EDC works together with private- and public- sector financial institutions to create greater capacity for Canadian companies to engage in trade and investment.
For more information about how EDC can help your company, visit www.edc.ca.
Export Development Canada
[email protected] (preferred and quickest response)
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Jan. 17, 2017 10:30 PM EST Reads: 626
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal ...
Jan. 17, 2017 10:30 PM EST Reads: 2,312
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
Jan. 17, 2017 09:30 PM EST Reads: 1,728
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Jan. 17, 2017 09:15 PM EST Reads: 7,504
"There is a huge interest in Kubernetes. People are now starting to use Kubernetes and implement it," stated Sebastian Scheele, co-founder of Loodse, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 17, 2017 08:45 PM EST Reads: 1,912
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Jan. 17, 2017 08:00 PM EST Reads: 455
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Jan. 17, 2017 08:00 PM EST Reads: 11,585
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 17, 2017 06:45 PM EST Reads: 6,209
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
Jan. 17, 2017 05:15 PM EST Reads: 3,561
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Jan. 17, 2017 04:45 PM EST Reads: 3,049
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 17, 2017 04:45 PM EST Reads: 867
In his session at DevOps Summit, Tapabrata Pal, Director of Enterprise Architecture at Capital One, will tell a story about how Capital One has embraced Agile and DevOps Security practices across the Enterprise – driven by Enterprise Architecture; bringing in Development, Operations and Information Security organizations together. Capital Ones DevOpsSec practice is based upon three "pillars" – Shift-Left, Automate Everything, Dashboard Everything. Within about three years, from 100% waterfall, C...
Jan. 17, 2017 04:30 PM EST Reads: 9,616
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walked through how Octob...
Jan. 17, 2017 04:30 PM EST Reads: 2,904
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Jan. 17, 2017 04:15 PM EST Reads: 1,978
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 17, 2017 03:30 PM EST Reads: 5,325