In the company's second sale announcement this week, EDF EN Canada Inc. says it has divested a chunk of its ownership stake in the Saint-Robert-Bellarmin wind project.
Located in Quebec, the 80 MW project comprises 40 Senvion 2 MW turbines and reached commercial operations in October 2012. The Canadian developer, a subsidiary of EDF Energies Nouvelles Group, has sold 30% of its 50% project interest to Fiera Axium Infrastructure Canada II LP and Regime de rentes du Mouvement Desjardins, along with entities of Desjardins Group. EDF now maintains a 20% ownership position, with the remaining 50% interest held by project partner Enbridge. Meanwhile, EDF Renewable Services will continue to provide operations and maintenance services.
Earlier this week, EDF EN Canada announced that it also sold 12.5% of its 50% ownership stake in the 300 MW Lac-Alfred wind farm in Quebec to two regional county municipalities. Saint-Robert-Bellarmin and Lac-Alfred are two of seven wind energy projects awarded to EDF EN Canada in 2008 and 2010 through Hydro-Quebec calls for tenders.
As to why EDF is selling portions of its interests, Raphael Declercq, the company's director of divestiture and portfolio management, explains the developer is simply following through on its business model.
"EDF EN has always developed and built projects with the intent to both (1) hold certain of those projects for the long term and (2) sell majority stakes in certain of those projects to third parties," says Declercq, adding that this model helps allow EDF to self-finance future projects.Â