Tuesday, November 15, 2011

Caisse invests $25M in Québec wind farm

The Caisse de dépôt et placement du Québec has announced a $25 million contribution to the Seigneurie de Beaupré Wind Farms project. The consortium - providing $725 million in financing to the project - includes Boralex, Gaz Metro and Valener. The cash will be used to construct and operate a 272MW wind farm in Québec, one of the largest wind energy development sites in the province.

“This financing enables us to support established business partners and offers us a long-term opportunity ideally aligned to our investment strategy,” said Marc Cormier, executive vice-president, fixed income, the Caisse. “With our investment in this project, we are contributing to a renewable energy initiative in Québec while generating a return that meets the objectives of our depositors.”

The first phase of the project will consist of 126 wind turbines, scheduled for start-up in December 2013.

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