Pattern Energy Group has announced the completion of CAD$ 263 million construction-to-term financing for its 147MW Mont Sainte-Marguerite Wind project, which is now entering full-stage construction.
Financing was provided by The Manufacturers Life Insurance Company, Caisse de dépôt et placement du Québec and Bayerische Landesbank, and fully amortizes over the term of the project's 25-year power purchase agreement (PPA) with Hydro-Québec. Mont Sainte-Marguerite Wind is located approximately 50 kilometres south of Québec City, in the Chaudière-Appalaches region. The Mont Sainte-Marguerite Wind project is utilizing 46 Siemens innovative 3.2MW direct drive wind turbines. The project began construction in the third quarter of 2016. It is expected to reach commercial operation in December 2017.