Pattern Energy Group LP (Pattern Development) has announced the completion of C$263 million construction-to-term financing for its 147 MW Mont Sainte-Marguerite Wind project, which is now entering full-stage construction in Quebec.
Financing was provided by The Manufacturers Life Insurance Co., Caisse de depot et placement du Quebec and Bayerische Landesbank. It fully amortizes over the term of the project’s 25-year power purchase agreement with Hydro-Quebec.
Mont Sainte-Marguerite Wind is located approximately 50 kilometers south of Quebec City in the Chaudiere-Appalaches region. The wind farm is being constructed by Borea under the supervision of both Pattern Development’s construction management team and RES Canada, the primary on-site construction manager.
“With the close of construction financing, we expect swift progress on our first project in Quebec and anticipate completing the facility by the end of the year,” comments Mike Garland, CEO of Pattern Development.
The project comprises 46 3.2 MW, direct-drive wind turbines from Siemens. Components for the turbines will be sourced from Quebec and leverage the labor force and manufacturing facilities in the province, says Pattern.
Specifically, approximately 250 workers are being employed on-site at the peak of construction activity. Once operational, the project will create approximately 10 permanent jobs for ongoing operations and maintenance, in addition to a number of local contractors.
In addition, says Pattern, the project will provide more than C$775,000 annually to Pattern’s community partners – the municipalities of Sacre-Coeur-de-Jesus, Saint-Sylvestre and Saint-Severin – which are stakeholders in the project and active participants in its development.
Upon completion, the Mont Sainte-Marguerite Wind project is expected to generate enough power for approximately 27,000 Quebec homes annually, according to statistics from Hydro-Quebec. The project site, which is located on one of the higher elevations in southern Quebec, has one of the strongest wind resources in the region, the developer says.
