A subsidiary of Quebec-based developer Eolectric has made an unspecified financial investment in Enerfin Energy Co. of Canada's 100 MW L'Erable Wind Farm.
According to the participants, Enerfin will remain the majority stakeholder and operator of the wind farm. The investment is subject to obtaining approvals from the relevant authorities, including Hydro-Quebec and the lenders involved in the project financing.
The L'Erable Wind Farm, located within the municipalities of Saint-Ferdinand, Sainte-Sophie-d'Halifax and Saint-Pierre-Baptise, is powered by 50 Enercon E-82 machines.
The wind farm holds a 20-year electricity supply agreement with Hydro-Quebec Distribution. Representing a total investment of approximately C$400 million, the project will generate expected annual benefits of C$1.3 million for the region during its operational phase.
According to Eolectric, its Eolectric Club LP unit invests in wind farm projects throughout Canada with investors such as Eolectric Inc., Industrial Alliance Insurance and Financial Services Inc., and Fiera Axium Infrastructure Canada II, Ltd. Partnership.
Previously, Eolectric Club invested in the 101.05 MW Vents du Kempt Wind Power project located in Quebec's La Matapedia region.