A consortium of companies including Desjardins Group, Desjardins Group Pension Plan, and Manulife Financial Corp. are scooping up a 50% stake in the Mont Rothery Wind Project from EDF EN Canada. The purchase price was not provided.
The 74 MW project, situated on public lands in the MRC of Haute-Gaspésie and MRC of Côte-de-Gaspé, consists of 37- 2MW wind turbines. It has been operating since December 1, 2015. Electricity generated by the project is delivered to Hydro-Quebec Distributionunder a 20-year Power Purchase Agreement.
“Desjardins Group is happy to continue the long term relationship established over the years with partners such as EDF EN and Manulife, with compatible objectives and values, and hope to extend this partnership in the future,” said Sylvain Gareau, VP at Desjardins Group Pension.
EDF EN Canada will remain involved in the project as a 50% co-owner and will provide management services. EDF Renewable Services will continue to provide a portion of the current operations and maintenance services as well as24/7 remote monitoring from its Operations Control Center (OCC).
“Mont Rothery is the second wind project investment in Quebec that Manulife has partnered with Desjardins and EDF EN Canada,” said William Sutherland, senior managing director of project finance at Manulife. “We are very pleased to have been given the opportunity to work with such a strong established institutional partner as Desjardins and becoming a co-owning partner with a world leading wind developer and operator in EDF EN.”