EDF EN Canada Acquires Hydromega Shares In Saint-Laurent Energies

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EDF EN Canada Inc., an EDF Energies Nouvelles company, has acquired Hydromega Services Inc.'s shares in Saint-Laurent Energies, a Montreal-based wind energy company.

Agreement on the ownership transfer was reached with Hydromega in October 2009, subject to administrative condition precedents, which are now fulfilled.
With this change of ownership, Saint Laurent Energies is now jointly owned by EDF EN Canada Inc. (70%) and RES Canada Inc. (30%). Â Â Â Â Â Â Â Â Â Â Â Saint-Laurent Energies Inc. was formed in 2008 by EDF Energies Nouvelles, Hydromega Services Inc. and RES Canada Inc. for the purpose of managing the development of five Quebec-based wind energy projects.

The consortium won 954 MW in the 2007 Hydro-Quebec request for proposals. The consortium's Montreal-based staff is now working to finalize development and prepare for 2012 construction activities. The power purchase agreements with Hydro-Quebec are 20-year contracts, with start of project operations extending from 2012 to 2015.

SOURCE: EDF Energies Nouvelles

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