The Caisse de depot et placement du Quebec has announced it will provide C$50 million of financing, in the form of a term loan, for the construction and operation of the Vents du Kempt wind project in Matapedia, Quebec.
Eolectric Club L.P. and Fiera Axium Infrastructure Canada LP are heading the 101 MW project, whose total cost is more than C$300 million. The project involves developing and operating a wind farm with 43 wind turbines, and the output will be sold to Hydro-Quebec under a 20-year power purchase agreement.
‘Through this investment, we are contributing, along with banks and institutional investors, to the implementation of a new renewable energy project in Quebec,’ says Marc Cormier, executive vice president of fixed income at the Caisse de depot et placement du Quebec. ‘This financing is in line with our commitment to invest in companies that provide stable, long-term returns for our clients, the depositors.’