Northland Power Income Fund has started site clearing for a wind farm to be located in the Gaspesie region of Quebec. The 100.5 MW Mont Louis project was awarded a contract in 2004 to supply power to Hydro-Quebec under a 20-year power purchase agreement. GE Canada is expected to supply 67 GE 1.5 sle wind turbines for the project.
The total cost of the project is expected to be C$176 million, or C$146 million net after reimbursement of substation and interconnection costs by Hydro-Quebec. Northland anticipates raising approximately $120 million of debt financing for the project, with financial close expected in September.
SOURCE: Northland Power Income Fund