Renewable energy firm EDF EN Canada, a subsidiary of EDF Energies Nouvelles Group, said Thursday it has struck a deal to divest 42.5% interest in the 350 megawatt (MW) Rivière-du-Moulin Wind Project, to a consortium comprising insurance firms
Manulife Financial Corporation and iA Financial group and the
Desjardins Group.
The DIM WIND LP consortium will also provide long-term debt financing for the project.
Located in the unorganized territory of Lac-Pikauba in the Regional County Municipalities of Charlevoix and the territory of Lac-Ministuk in the county of Fjord-du–Saguenay, the wind farm represents the largest wind energy facility in Canada. It is being developed in two phases: the first phase of 150 MW reached commissioning in November, 2014. The second phase of 200 MW is scheduled for commissioning by December.
Electricity generated by the project is to be purchased by Hydro-Quebec Distribution under a 20-year Power Purchase Agreement.
EDF EN Canada will remain involved in the project as a 57.5% co-owner and to provide management services.
