Quebec’s Mesgi’g Ugju’s’n wind project closes $312M round of financing
150 megawatt project in eastern Quebec expected to commence operations next year
LONGUEUIL, Que.—Innergex Renewable Energy Inc. and its partner, the Mi’gmaq communities of Quebec, have closed a $311.7 million round of financing for the Mesgi’g Ugju’s’n wind project, which is located on public lands in the Avignon Regional County Municipality of Quebec.
“Our Assembly, the Mi’gmawei Mawiomi, has been anticipating reaching this critical milestone and today we are elated to have reached financial close,” Troy Jerome, executive director of the Mi’gmawei Mawiomi Secretariat, said. “The Mesgi’g Ugju’s’n project is a historic achievement and a testament of how Mi’gmaq communities can come together and reach their vision of funding their own government initiatives.”
The proceeds will be used to pay for the project’s construction costs. Ground was broken on the project in May of this year and is expected to continue through much of 2016. The 150 megawatt wind farm is expected to commence commercial operations late next year. The project is a 50-50 partnership owned by the project is owned by three Mi’gmaq communities of Quebec and Innergex.
“The successful realization of this project is now well underway, with construction progressing on time and on budget”, Michel Letellier, president and CEO of Innergex said.