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Financing announced for Quebec wind farm

DCN News Service
Financing announced for Quebec wind farm

SAN FRANCISCO — San Francisco-based Pattern Energy Group LP has announced financing for its $263-million, 147-megawatt Mont Sainte-Marguerite Wind project in Quebec, which is now entering full-stage construction.

Upon completion, the wind farm is expected to generate enough power for approximately 27,000 Quebec homes annually, according to power use statistics from Hydro-Quebec.

The project is utilizing 46 Siemens innovative 3.2-megawatt direct drive wind turbines. Components for the turbines will be sourced from Quebec. Approximately 250 skilled workers will be employed on site at the peak of construction activities.

Project construction is being undertaken by Borea, under the supervision of both Pattern Development’s construction management team and RES Canada, as the primary on-site construction manager. The project began construction in the third quarter of 2016. It is expected to reach commercial operation in December 2017, notes the Pattern Development media statement dated March 7.

Financing was provided by the Manufacturers Life Insurance Company, Caisse de depot et placement du Quebec and Bayerische Landesbank, and fully amortizes over the term of the project’s 25-year power purchase agreement with Hydro-Quebec. The wind farm is located 50 kilometres south of Quebec City in the Chaudiere-Appalaches region.

The project will provide more than $775,000 annually to Pattern Development’s community partners, the municipalities of Sacre-Coeur-de-Jesus, Saint-Sylvestre and Saint-Severin, which are stakeholders in the project and active participants in its development.

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