The Caisse de dépôt et de placement du Québec has invested $90 million in part of the construction of the Mont Sainte-Marguerite wind farm in the Chaudière-Appalaches region of Quebec.
The project is being developed by Pattern Energy Group LP, along with three local municipalities: Sacré-Coeur-de-Jésus, Saint-Sylvestre and Saint-Séverin. The completed wind farm will have 46 turbines and will have a total capacity of 147 megawatts. The power it generates will be sold to Hydro-Québec under a 25-year power purchase agreement.
Read: Caisse loans $60M to Quebec wind farm
“As a long-term investor, la Caisse is constantly seeking financing opportunities that generate stable, lasting returns,” said Marc Cormier, executive vice-president of fixed income at Caisse, in a release. “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.”
Caisse has financed four other wind farm projects in Quebec, and has major interests in national and global wind farm projects as well.