MONTREAL, Nov. 8, 2011 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced today it will contribute financing of $25 million,
in the form of senior debt, to the development of the Seigneurie de
Beaupré Wind Farms. The project, led by a consortium consisting of
Boralex Inc., Gaz Métro L.P., and Valener Inc., represents financing of
$725 million. The initial project phase involves the construction and
operation of a 272 MW wind farm north of the St. Lawrence River and
constitutes one of the largest wind energy development sites in Québec.
"This financing enables us to support established business partners and
offers us a long-term opportunity ideally aligned to our investment
strategy," affirmed Marc Cormier, Executive Vice-President, Fixed
Income, at the Caisse de dépôt et placement du Québec. "With our
investment in this project, we are contributing to a renewable energy
initiative in Québec while generating a return that meets the
objectives of our depositors."
"Our business relationship with the Caisse has strengthened year over
year, and we are very pleased to once again have its support in such an
important project," said Sophie Brochu, President and Chief Executive
Officer of Gaz Métro L.P. "The participation of the Caisse, in tandem
with other financial partners, speaks volumes about its readiness to
contribute to the success of high-quality projects that will ultimately
benefit all Québecers," added Patrick Lemaire, President and Chief
Executive Officer of Boralex Inc.
ABOUT THE SEIGNEURIE DE BEAUPRÉ WIND FARMS
With a total installed capacity of 272 MW, the first phase in the
development of the Seigneurie de Beaupré Wind Farms will consist of 126
Enercon turbines. The project will see energy supplied to Hydro-Québec
under power purchase agreements spanning 20-years, and commissioning of
the first phase is scheduled for December 2013. Construction has
already begun on the site and is proceeding as planned, with 41
foundations poured and 80% of access roads completed to date.
ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and
insurance plans. As at December 31, 2010, it held $151.7 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity and real
estate. For more information: www.lacaisse.com.
SOURCE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
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