Pattern Energy and PSP Investments buy Québec’s 147MW wind farm

16 August 2018 (Last Updated August 17th, 2018 09:07)

US-based Pattern Energy Group and Public Sector Pension Investment (PSP Investments) have jointly acquired the 147MW Mont Sainte-Marguerite Wind power facility in Québec, Canada.

Pattern Energy and PSP Investments buy Québec’s 147MW wind farm
Mont Sainte-Marguerite Wind. Credit: PRNewsfoto/Pattern Energy Group Inc.

US-based Pattern Energy Group and Public Sector Pension Investment (PSP Investments) have jointly acquired the 147MW Mont Sainte-Marguerite Wind power facility in Québec, Canada.

Located nearly 50km south of Québec City, Mont Sainte-Marguerite Wind project is currently fully operational.

The acquisition from Pattern Energy Group (Pattern Development 1.0) follows a prior-agreed purchase-and-sale agreement between the two companies.

“The wind facility has been designed to generate enough clean energy to power 28,000 Québec homes per annum.”

Under the agreement, Pattern Energy has agreed to acquire a 51% stake in the wind project for $40m, while PSP Investments acquired the remaining 49% interest in Mont Sainte-Marguerite.

Furthermore, Pattern Energy will operate the facility as per the terms of the agreement.

Mont Sainte-Marguerite Wind facility features 46 wind turbines that were supplied by Siemens Gamesa, and the turbine hubs were provided by Québec-based Group FabDelta.

The wind facility has been designed to generate enough clean energy to power 28,000 Québec homes per annum.

Additionally, the wind farm has signed a power purchase agreement (PPA) with Hydro-Québec Distribution for a period of 25 years.

Pattern Energy CEO Mike Garland said: “This is our first wind power facility in Québec and our third project under the joint venture agreement with PSP Investments, underscoring the strategic value of our partnership.

“With strong CAFD contributions and a 25-year PPA, Mont Sainte-Marguerite is a fantastic addition to our growing portfolio that expands our Canadian footprint and further diversifies our portfolio.

“We now have a total of seven operational wind facilities across Canada with a total capacity to power more than 450,000 Canadian homes each year.”