Under the terms of the agreement, Enbridge will acquire an additional 17.5% stake in the 300MW Lac Alfred wind project and an additional 30% stake in the 150MW Massif du Sud wind project.
Following completion of the transaction, which is due in mid-October, Enbridge will hold 67.5% interest in Lac Alfred and 80% interest in Massif du Sud wind farms while EDF EN Canada will retain 20% ownership position in both farms.
MRCs of La Matapédia and La Mitis will acquire the remaining 12.5% interest of the Lac Alfred wind project in September 2014.
Enbridge corporate development senior vice president Vern Yu said: "We’ve invested approximately $3 billion in renewable energy assets over the past five years, and we plan to continue growing our renewable business with the objective of doubling capacity by 2017.
"Additionally, this agreement further reflects the strength of our relationship with EDF EN Canada, with whom we’ve partnered on four jointly-owned wind projects since October 2012."
The 300MW Lac Alfred project is located in the municipalities of Saint-Cléophas, Sainte-Irène, Saint-Zénon-du-Lac-Humqui and the unorganized territory (UT) of Lac Alfred in the MRC de La Matapédia and in the municipality of La Rédemption and UT Lac-à -la-Croix in the MRC de La Mitis.
The 150MW Massif du Sud wind project is located in the municipalities of Saint-Luc-de-Bellechasse and Saint-Magloire in the MRC des Etchemins and in the municipalities of Notre-Dame-Auxiliatrice-de-Buckland and Saint-Philémon in the MRC de Bellechasse.
The two projects generate enough clean electricity to address the needs of more than 100,000 Quebec homes.
