The C$153 million ($117 million) Public Sector Pension Investment Board has acquired the 147-megawatt Mont Sainte-Marguerite Wind power facility from Pattern Energy Group.
Mont Sainte-Marguerite Wind is located approximately 50 kilometers (31 miles) south of Québec City, in the Chaudière-Appalaches region.
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 percent interest in Mont Sainte-Marguerite for a total investment of approximately C$40 million ($31 million).
PSP Investments acquired a 49 percent interest in Mont Sainte-Marguerite. Pattern Energy will operate the facility.
It is Pattern Energy’s first wind power facility in Québec and its third project under the joint venture agreement with PSP Investments.
The Mont Sainte-Marguerite Wind facility operates under a 25-year power purchase agreement with Hydro-Québec Distribution. Mont Sainte-Marguerite Wind facility is expected to generate enough power for approximately 28,000 Québec homes annually, according to power use statistics from Hydro-Québec.
