MONTREAL, June 10, 2013 /CNW Telbec/ - The Caisse de dépôt et placement
du Québec announced today that it will provide $50 million of
financing, in the form of a term loan, for the construction and
operation of the Vents du Kempt Wind Power Project in the regional
county municipality of Matapédia, Québec. The financing is part of the
total project cost of more than $300 million, as announced earlier
today by its proponents, Eolectric Club, L.P. and Fiera Axium
Infrastructure Canada, Limited Partnership.
The project involves developing and operating a wind farm with 43 wind
turbines that will have a total capacity of 101 MW once they are
operational. The output will be sold to Hydro-Québec 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 Québec," said Marc Cormier, Executive Vice-President,
Fixed Income, at the Caisse de dépôt et placement du Québec. "This
financing is in line with our commitment to invest in companies that
provide stable, long-term returns for our clients, the depositors."
"The Vents du Kempt Wind Power Project generates significant benefits
for Québec landowners, contractors, consultants and municipalities, as
well as for workers in the wind power sector in Bas-St-Laurent and
Gaspésie," said Guy Painchaud, President of Gestion Éolectric Inc., the
manager of the project. "We're therefore pleased to be able to count on
the involvement of the Caisse de dépôt et placement du Québec in
financing the Vents du Kempt project."
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, 2012, it held $176.2 billion in net
assets. As one of Canada's leading institutional fund managers, the
Caisse invests in major financial markets, private equity,
infrastructure and real estate globally. For more information: www.lacaisse.com.
SOURCE: CAISSE DE DEPOT ET PLACEMENT DU QUEBEC
For further information:
Senior Adviser, Media Relations