DIM WIND is owned by a consortium involving Desjardins Group, Manulife Financial and iA Financial Group.
Under the terms of the deal, which is subject to customary conditions precedents, the consortium will provide long term debt financing for the project.
EDF Renewable Energy portfolio strategy vice-president Raphael Declercq said: "The long-term investment view shared by Desjardins, Manulife and Industrial Alliance aligns very well with EDF EN Canada’s strategy and Rivière-du-Moulin is a perfect fit.
"The Consortium furthermore places value on the importance of strong community ties; which is a key tenet to our project development approach."
The wind farm is being developed in two phases in the unorganized territory (UT) of Lac-Pikauba in the Regional County Municipalities (RCM) of Charlevoix and the UT of Lac-Ministuk in the RCM of Fjord-du-Saguenay.
The first phase of 150MW was commissioned in 27 November 2014 while the 200MW second phase is planned to begin operations by December 2015.
Hydro-Quebec Distribution will purchase the power generated from project under a 20-year power purchase agreement.
As co-owner, EDF EN Canada will retain 57.5% stake in the project and will provide management services.
Additionally, EDF Renewable Services will be responsible for providing a portion of the current operations and maintenance services as well as 24/7 remote monitoring from its Operations Control Center (OCC).
EDF EN Canada is expected to have 1,599MW of installed wind and solar capacity in Canada by 2017.
Image: The Riviere-du-Moulin wind project is located in Quebec, Canada. Photo: courtesy of Business Wire.
