As per the agreement, EDF EN Canada will acquire the remaining 30% ownership shares of SLE held by RES Canada and all of the ownership interests in seven Quebec wind energy projects currently owned jointly by RES Canada and EDF EN Canada.
SLE was formed in 2008 to manage the development of five Quebec-based wind energy projects totaling 954MW won in the 2007 Hydro-Quebec request for proposal (RFP), and is currently finalizing development and preparing for construction activities for the first of these projects that will start in the second half of 2011, EDF EN Canada said.
The power purchase agreements with Hydro-Quebec for the five original projects are 20-year contracts with start of project operations extending from 2012 to 2015.
Hydro-Quebec also awarded 49.2MW, comprising two projects, to RES Canada and EDF EN Canada in December 2010 pursuant to its municipal tender.
EDF EN Canada said that SLE is also managing the development of these municipal projects.
