EDF EN sells further stake in Canada site

CANADA: EDF Energies Nouvelles (EDF EN) has sold a 15% stake in its 350MW Riviére-du-Moulin wind farm to a trio of local community groups.

by David Weston 24 August 2016

EDF-EN's 350MW Riviére-du-Moulin project was completed at the end of 2015

EDF-EN retains a 42.5% ownership of the project, which comprises 175 Senvion 2MW turbines and was completed in 2015.

The 15% was acquired by three groups with equal shares. Firstly, the regional county municipalities of Charlevoix and Fjord-du Saguenay — the location of the wind project in southeast Canada — have acquired a 5% stake.

The remaining 10% was sold to local First Nation indigenous groups; Innu of Mashteuiatsh and Essipit First Nations (5%) and the Huron Wendat Nation (5%).

"EDF-EN Canada is very proud of the relationships developed with the host communities of Rivière-du-Moulin. This transaction demonstrates the importance we place on developing infrastructure projects in accordance with the community needs," said EDF-EN Canada's director of generation Alex Couture.

In November 2015, EDF-EN sold a 42.5% stake to the DIM Wind consortium, comprising Canadian credit union Desjardins Group, and insurance firms Manulife Financial Corporation and the iA Financial group.

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