MRCs La Matapedia and La Mitis Acquire a Portion of the Lac-Alfred Wind Project

MONTREAL, Quebec (Sept 8, 2014) : EDF Renewables Inc., a subsidiary of EDF Energies Nouvelles, has sold 12.5% of their ownership stake in the 300 megawatt (MW) Lac-Alfred Wind Project to the MRCs of La Matapédia and La Mitis.

Enbridge Inc. and EDF Renewables became co-owners of the project in November 2011. Following this transaction, Enbridge maintains its 50% interest in the project while EDF Renewables holds 37.5% and the remaining 12.5% is held by the MRC of La Matapédia (10%) and MRC of La Mitis (2.5%). EDF Renewables will continue to provide management services to the Project, and EDF Renewable Services will continue to provide long-term operations and maintenance services.

The prefects of the MRCs, Chantale Lavoie (La Matapédia) and Noël Lambert (La Mitis) are satisfied with this partnership. “For the MRC and municipalities, this acquisition will provide a share of revenues from the sale of electricity while providing diversification of funding sources. It’s also a great opportunity for local communities to benefit from the direct impact of a natural resource present at home. Depending on the power generation of the wind farm, net profits could reach $200,000 to $300,000 per year for La Mitis and $500,000 to $1,000,000 for La Matapedia.”

“EDF Renewables is pleased to conclude this transaction,” said Alex Couture, Director, Project Development for EDF Renewables. “Our wind farms not only produce clean, renewable energy, but they also bring a long-term investment opportunity for the communities that host our projects. This transaction is evidence of an additional way to strengthen our relationship with the communities.”

Located in the municipalities of Saint-Cléophas, Sainte-Irène, Saint-Zénon-du-Lac-Humqui and the unorganized territory (UT) of Lac Alfred in the MRC of La Matapédia and in the municipality of La Rédemption and UT Lac-à-la-Croix in the MRC of La Mitis, the project comprises 150 wind turbines supplied by Senvion. Construction of Lac-Alfred commenced in June 2011 and reached commercial operation in two phases: Phase 1 (150 MW) in January, 2013; and Phase 2 (150 MW) in August 2013. Electricity generated is delivered to Hydro-Quebec Distribution under a 20-year Power Purchase Agreement.

Lac-Alfred is one of seven wind energy projects awarded to EDF Renewables in 2008 and 2010 through Hydro-Quebec call for tenders. It also represents the third project developed by EDF Renewables to be held in partnership with a MRC, the other two wind projects being La Mitis (24.6 MW) and Le Granit (24.6 MW). By the end of 2015, EDF Renewables will have placed into service 1,374 MW of wind and solar projects in Canada.

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