EDF sells stake in 350MW Canada project

CANADA: EDF Energies Nouvelles Canada has sold a 42.5% stake in its 350MW Riviere-du-Moulin project to the DIM Wind consortium.

by David Weston 6 November 2015

The second phase of Riviere-du-Moulin is due for completion in December

DIM Wind is a finance consortium, comprising the Canadian credit union Desjardins Group, and insurance firms Manulife Financial Corporation and iA Financial group.

As part of the deal, DIM will provide long term debt financing to the project, according to EDF-EN.

Riviere-du-Moulin is being developed in two phases. The first 150MW phase was commissioned at the end of November 2014. The second 200MW phase is set to be completed in December 2015.

The two phases are being powered by Senvion 2MW turbines.

Government-owned utility Hydro-Quebec agreed to buy all the power from the project in a 20-year power purchase deal.