The Caisse invests $25 M in the financing of the Seigneurie de Beaupré Wind Farms
The Caisse de dépôt et placement du Québec announced today it will contribute financing of $25 million, in the form of senior debt, to the development of the Seigneurie de Beaupré Wind Farms. The project, led by a consortium consisting of Boralex Inc., Gaz Métro L.P., and Valener Inc., represents financing of $725 million. The initial project phase involves the construction and operation of a 272 MW wind farm north of the St. Lawrence River and constitutes one of the largest wind energy development sites in Québec.
“This financing enables us to support established business partners and offers us a long-term opportunity ideally aligned to our investment strategy,” affirmed Marc Cormier, Executive Vice-President, Fixed Income, at the Caisse de dépôt et placement du Québec. “With our investment in this project, we are contributing to a renewable energy initiative in Québec while generating a return that meets the objectives of our depositors.”
“Our business relationship with the Caisse has strengthened year over year, and we are very pleased to once again have its support in such an important project,” said Sophie Brochu, President and Chief Executive Officer of Gaz Métro L.P. “The participation of the Caisse, in tandem with other financial partners, speaks volumes about its readiness to contribute to the success of high-quality projects that will ultimately benefit all Québecers,” added Patrick Lemaire, President and Chief Executive Officer of Boralex Inc.
ABOUT THE SEIGNEURIE DE BEAUPRÉ WIND FARMS
With a total installed capacity of 272 MW, the first phase in the development of the Seigneurie de Beaupré Wind Farms will consist of 126 Enercon turbines. The project will see energy supplied to Hydro-Québec under power purchase agreements spanning 20-years, and commissioning of the first phase is scheduled for December 2013. Construction has already begun on the site and is proceeding as planned, with 41 foundations poured and 80% of access roads completed to date.
À PROPOS DE LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec est une institution financière qui gère des fonds provenant principalement de régimes de retraite et d'assurance publics et privés. Son actif net s'élève à 151,7 G$ au 31 décembre 2010. Un des plus importants gestionnaires de fonds institutionnels au Canada, la Caisse investit dans les grands marchés financiers et sous forme de placements privés et d'investissements immobiliers. Pour plus de renseignements : www.cdpq.com.
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