Pattern Energy and PSP Investment announce acquisition of 147 MW wind project in Quebec

Pattern Energy Group Inc. and the Public Sector Pension Investment Board have announced the acquisition of the 147 MW Mont Sainte-Marguerite Wind project from Pattern Energy Group LP (Pattern Development 1.0). Mont Sainte-Marguerite Wind is located approximately 50km south of Québec City, in the Chaudière-Appalaches region of eastern Canada.

Mont Sainte-Marguerite Wind is fully operational and has been jointly acquired pursuant to a prior-agreed purchase-and-sale agreement. Pattern Energy acquired a 51% interest in Mont Sainte-Marguerite for a total investment of approximately US$40 million, which was funded using available liquidity.  PSP Investments acquired the remaing 49% interest. Pattern Energy will operate the facility.

Mont Sainte-Marguerite Wind operates under a 25-year power purchase agreement (PPA) with Hydro-Québec Distribution. The facility is expected to generate enough power for approximately 28,000 Québec homes annually, according to power use statistics from Hydro-Québec. The facility site, located on one of the higher elevations in Southern Québec, has one of the strongest wind resources in the region.

The facility is utilizing 46 Siemens Gamesa 3.2 MW direct drive wind turbines with components made in Canada, including the turbine hubs and towers, which were built in Québec. The turbine hubs were provided by Québec-based Group FabDelta. The turbine blades were manufactured in Ontario and the towers were manufactured by Marmen at the company's facility in Matane, Québec.