Selkirk Advisory Group arranged roughly USD 5.9m for four solar projects developed and built by Compass Renewable Energy, the firm announced 5 December.

Selkirk arranged the financing on behalf of an undisclosed lender. The lender, according to a source familiar with the deal, is a Canadian life insurance company.

The portfolio comprises four 1 MW ground-mount solar projects located in southern Saskatchewan: Pisim I, Pisim II, Cossette, and NM Solar. The projects are majority owned by local First Nations group, which holds roughly an 80% interest. The projects will sell electricity to the Saskatchewan Power Corporation under 20-year power purchase agreements.

McMillan acted as legal counsel on the deal for Selkirk and the lender, while Miller Thomson acted as legal advisor to the projects’ owners.

Miller Thomson declined to comment while McMillan did not respond to a request for comment.