Enbridge buys into wind project: $330M
Enbridge Inc. is investing $330 million for a co-ownership of the 300-megawatt Lac Alfred Wind Project in Quebec.
MONTREAL: Enbridge Inc. is investing $330 million for a co-ownership of the 300-megawatt Lac Alfred Wind Project in Quebec.
The Calgary-based energy company and CEDF EN Canada Inc., a renewable energy developer in Montreal, will share the project 50-50.
“The Lac Alfred Project marks Enbridge’s entree into the growing Quebec wind energy market, the second largest in Canada,” said Al Monaco, president of Enbridge’s Gas Pipelines, Green Energy & International division. “Quebec is an attractive investment environment for us given the province’s wind capacity target of 4,000 megawatts by 2015, the availability of long term power purchase arrangements there, and the province’s accessible transmission infrastructure.”
The project, located in Quebec’s Bas-Saint-Laurent region, will consist of 150 wind turbines supplied by REpower, made with locally manufactured blades, towers and converters.
Construction will get underway in two phases starting in June and will be completed by December 2013. When fully operational, the project will generate enough electricity to power 70,000 homes
Hydro-Quebec will buy the power under a 20-year power purchase agreement and construct a 30-kilometre transmission line to connect the project to the grid.