Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund II LP have acquired 37.5% of EDF Renewables Canada Inc.’s stake in the Cypress 1 & 2 Wind projects. The projects, located southeast of Medicine Hat, Alberta, in Cypress County, have a total 247 MW capacity.
Desjardins now owns 37.5% of the projects, EDF Renewables Canada holds 37.5% and the Blood Tribe, a First Nation located at Stand Off, Alberta, owns the remaining 25% stake. The projects were developed, built and operated by EDF Renewables Canada. Construction began in 2020, creating 250 jobs at its peak. Operations began in 2022 and 2023.
“EDF Renewables Canada is pleased to partner with an experienced infrastructure investor and expand its long-standing partnership with Desjardins,” says Andres Estrada, senior manager of portfolio strategy at EDF Renewables North America. “We are excited to contribute to the growth of a low-carbon economy in Alberta and are proud to strengthen our relationship with the local communities, ensuring that these valuable wind projects were developed and built in a manner that is respectful of the needs, heritage and future of Cypress County.”
The Cypress 1 Project is one of five wind projects selected to enter into a Renewable Electricity Support Agreement with the Alberta Electric System Operator in round 2 of the competitive procurement process for its Renewable Electricity Program, which was launched in March 2018.
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