Eolectric buys Quebec project stake
Quebec-based developer Eolectric has acquired a minority equity stake in the 100MW L’Erable wind farm in the province from Enerfin Energy Company of Canada, a subsidiary of Spain’s Elecnor Group.
Financial terms of the transaction were not disclosed. The deal is subject to approvals from regulators, project lenders and provincial utility Hydro-Quebec.
Enerfin will remain the majority stakeholder and operator of the wind farm, which utilizes 50 Enercon E-82 wind turbines.
Enerfin commissioned the $400m facility on 16 November and sells all power under a 20-year contract to Hydro-Quebec Distribution.
“This agreement with a quality local partner like Eolectric Club confirms our willingness to be part of the Canadian market, as well as our long-term presence and commitment,” says Guillermo Planas, managing director of Enerfin Spain.
Eolectric subsidiary Eolectric Club invests in wind projects in Canada. Other investors in Eolectric Club are Industrial Alliance Insurance and Financial Services and Fiera Axium Infrastructure Canada II.