French renewable energy group EDF Energies Nouvelles’ subsidiary EDF EN Canada has closed on the asset purchase agreement with MD1 WIND to sell its 50% stake in the 74MW Mont Rothery Wind Project.
MD1 WIND LP is a limited partnership firm formed by a consortium of four affiliated entities of the Desjardins Group, which includes Desjardins Group Pension Plan and Manulife Financial (Manulife).
The Mont Rothery Offshore Wind Project is located on the lands in the MRC of Haute-Gaspésie and MRC of Côte-de-Gaspé of Canada.
Manulife’s project finance senior managing director William Sutherland said: "Mont Rothery is the second wind project investment in Quebec that Manulife has partnered with Desjardins and EDF EN Canada.
"We are very pleased to have been given the opportunity to work with such a strong established institutional partner as Desjardins and becoming a co-owning partner with a world leading wind developer and operator in EDF EN."
The windfarm comprises 37 turbines, with a power producing capacity of 2MW each.
With commencement of the commercial operation on 1 December 2015, the offshore project supplies the Hydro-Quebec Distribution under a 20-year Power Purchase Agreement (PPA).
EDF EN Canada will continue to remain as a 50% co-owner of the project and will be responsible for providing management services.
Image: The 74MW Mont Rothery Wind Project in Canada. Photo: courtesy of Business Wire.