San Francisco: Pattern Energy Group LP announced the completion March 7 of $263 million construction-to-term financing for its 147 megawatt Mont Sainte-Marguerite Wind project, which had entered full-stage construction in Quebec.
Financing was provided by The Manufacturers Life Insurance Company, Caisse de dépôt et placement du Québec and Bayerische Landesbank, and fully amortizes over the term of the project's 25-year power purchase agreement (PPA) with Hydro-Québec. Mont Sainte-Marguerite Wind is located approximately 50 kilometers south of Québec City, in the Chaudière-Appalaches region.
The Mont Sainte-Marguerite Wind project is utilizing 46 Siemens 3.2 MW direct drive wind turbines. Components for the turbines will be sourced from Québec and leverage the highly-skilled labor force and manufacturing facilities in the province. The project site, which is located on one of the higher elevations in Southern Québec, has one of the strongest wind resources in the region. The project is being constructed by Borea, under the supervision of both Pattern Development's construction management team and RES Canada, as the primary on-site construction manager. The project began construction in the third quarter of 2016. It is expected to reach commercial operation in December 2017.