MONTREAL--(BUSINESS WIRE)--EDF EN Canada Inc., a subsidiary of EDF Energies Nouvelles, has sold 12.5% of their ownership stake in the 300 megawatt (MW) Lac-Alfred Wind Project to the MRCs of La Matapédia and La Mitis.
Enbridge Inc. and EDF EN Canada became co-owners of the project in November 2011. Following this transaction, Enbridge maintains its 50% interest in the project while EDF EN Canada holds 37.5% and the remaining 12.5% is held by the MRC of La Matapédia (10%) and MRC of La Mitis (2.5%). EDF EN Canada will continue to provide management services to the Project, and EDF Renewable Services will continue to provide long-term operations and maintenance services.
The prefects of the MRCs, Chantale Lavoie (La Matapédia) and Noël Lambert (La Mitis) are satisfied with this partnership. "For the MRC and municipalities, this acquisition will provide a share of revenues from the sale of electricity while providing diversification of funding sources. It's also a great opportunity for local communities to benefit from the direct impact of a natural resource present at home. Depending on the power generation of the wind farm, net profits could reach $200,000 to $300,000 per year for La Mitis and $500,000 to $1,000,000 for La Matapédia."
"EDF EN Canada is pleased to conclude this transaction," said Alex Couture, Director, Project Development for EDF EN Canada. "Our wind farms not only produce clean, renewable energy, but they also bring a long-term investment opportunity for the communities that host our projects. This transaction is evidence of an additional way to strengthen our relationship with the communities."
Located in the municipalities of Saint-Cléophas, Sainte-Irène, Saint-Zénon-du-Lac-Humqui and the unorganized territory (UT) of Lac Alfred in the MRC of La Matapédia and in the municipality of La Rédemption and UT Lac-à-la-Croix in the MRC of La Mitis, the project comprises 150 wind turbines supplied by Senvion. Construction of Lac-Alfred commenced in June 2011 and reached commercial operation in two phases: Phase 1 (150 MW) in January, 2013; and Phase 2 (150 MW) in August 2013. Electricity generated is delivered to Hydro-Quebec Distribution under a 20-year Power Purchase Agreement.
Lac-Alfred is one of seven wind energy projects awarded to EDF EN Canada in 2008 and 2010 through Hydro-Quebec call for tenders. It also represents the third project developed by EDF EN Canada to be held in partnership with a MRC, the other two wind projects being La Mitis (24.6 MW) and Le Granit (24.6 MW). By the end of 2015, EDF EN Canada will have placed into service 1,374 MW of wind and solar projects in Canada.
ABOUT EDF EN CANADA INC.:
EDF EN Canada, a subsidiary of EDF Energies Nouvelles, is a market leader in renewable energy, with more than 1,300 MW of wind and solar power facilities in service or under construction. Headquartered in Toronto, with offices in Montreal, EDF EN Canada employs an integrated approach to project development covering all aspects from conception to commissioning through to generation and long term operations. The subsidiary offers financial strength, technological innovation and an emphasis on service. EDF EN Canada draws on the market expertise of EDF Renewable Energy, EDF Energies Nouvelles' U.S. subsidiary. EDF Energies Nouvelles is 100% owned by the EDF Group. www.edf-energies-nouvelles.com www.edf-en.ca