EDF EN Canada, an EDF Energies Nouvelles Company, has increased its majority ownership in Montreal-based wind energy company Saint-Laurent Energies to 70% by purchasing the stake held by Hydromega Services.
Agreement on the ownership transfer was reached with Hydromega in October 2009, subject to administrative condition precedents, that are now fulfilled.
Saint-Laurent Energies was formed in 2008 by EDF Energies Nouvelles, Hydromega Services and RES Canada for the purpose of managing the development of five Quebec based wind energy projects.
The consortium won 954MW in the 2007 Hydro-Quebec RFP – nearly half of all megawatts awarded. The consortium’s Montreal based staff is now working to finalize development and prepare for 2012 construction activities.
The Power Purchase Agreements (PPA) with Hydro-Quebec are 20-year contracts with start of project operations extending from 2012 to 2015.
With this change of ownership, Saint Laurent Energies is now jointly owned by EDF EN Canada (70%) and RES Canada (30%).
Al Kurzenhauser, vice president of EDF EN Canada, said: “EDF EN Canada is pleased to acquire an increased share in Saint-Laurent Energies and looks forward to continuing to work with all of our stakeholders involved with this world class project.”