EDF EN Canada has announced that they have executed an Asset Purchase Agreement with DIM WIND LP, a limited partnership formed by a consortium of three affiliates of the Desjardins Group, Manulife Financial Corporation; and iA Financial Group, to divest to the Consortium, a 42.5% interest in the 350MW Rivière-du-Moulin wind project.
As part of the transaction, the Consortium will also provide long term project debt financing. The wind farm is being developed in two phases: the first phase of 150MW reached commissioning on November 27, 2014. The second phase of 200MW is scheduled for commissioning by December 2015. Electricity generated by the project is delivered to Hydro-Quebec Distribution under a 20-year Power Purchase Agreement. EDF EN Canada will remain involved in the project as a 57.5% co-owner and to provide management services. 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 (OCC).