Major Institutional Investor in Quebec Offers Funding for a Wind Farm Project

wind farm in Quebec
Image Source: Ken Lund, CC BY-SA 2.0

The institutional investor, Caisse de Dépôt et de Placement du Québec (CPDQ), has offered $90 million in term-loan financing for the Mont Sainte-Marguerite wind farm project in Chaudière-Appalaches.

Developed in partnership with Pattern Energy Group, as well as several municipalities in the region, the project includes developing and operating a wind energy park with more than 40 turbines. Upon completion, the facility is expected to generate 147 mW of power, which is sufficient to support more than 25,000 households. The generated power will then be purchased by Hydro-Quebec from the developers under a 25-year agreement.

Commenting on the importance of the project, CPDQ executive vice-president Marc Cormier said:

“In addition to contributing to the development of clean and renewable energy, the Mont Sainte-Marguerite wind power project will have a positive impact on the regional economy.”

Aside from the Mont Sainte-Marguerite wind farm, CPDQ has also provided financing for other similar projects in the province. These include the Parc des Moulins, Vents du Kempt, Parcs éoliens de la Seigneurie de Beaupré, and the New Richmond wind energy projects.