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EDF EN Canada to divest 42.5% stake in 350MW Rivière-du-Moulin wind project

CTBR Staff Writer Published 09 November 2015

EDF EN Canada has agreed to divest a 42.5% stake in the 350MW Rivière-du-Moulin wind project in Quebec, Canada to DIM WIND.

EDF

DIM WIND is a consortium comprising Desjardins, Manulife Financial and iA Financial Group.

The wind farm, which was awarded through Hydro-Quebec Distribution call for tenders, is being developed in two phases.

The 150MW phase I of the wind farm is operating since November last year and the 200MW phase II will be commissioned by the end of this year.

The clean electricity generated at the wind farm will be sold to Hydro-Quebec Distribution, under a 20-year power purchase agreement.

EDF EN Canada portfolio strategy vice president Raphael Declercq said: "We are delighted to welcome the consortium as a co-owner of our largest wind project in North America. The long-term investment view shared by Desjardins, Manulife and Industrial Alliance aligns very well with EDF EN Canada's strategy and Rivière-du-Moulin is a perfect fit.

"The Consortium furthermore places value on the importance of strong community ties; which is a key tenet to our project development approach."

EDF EN Canada will continue to own the remaining 57.5% stake in the project as a co-owner. EDF Renewable Services will continue to provide a portion of the current operations and maintenance services as well as 24/7 remote monitoring from its operations control center.

By the end of 2017, EDF EN Canada is anticipated to have 1,599MW of wind and solar projects in operation in the country.


Image: Riviere-du-Moulin wind project in Quebec. Photo: courtesy of Business Wire.