Northland receives C$15m loan for Quebec project

CANADA: Northland Power Income Fund has secured C$15million to fund the construction of a 100MW project in the Gasp├ęsie region of Quebec.

Google Translate

The funding is to come in the form of a loan from Investissement Quebec. The project itself is expected to cost around C$176million and is due to be completed in the third quarter of 2011.

Northland has a 20-year power purchase agreement (PPA) with Hydro-Quebec in place for the project.

The PPA was signed in 2004 as part of a move by Hydro-Quebec to supply 990MW of wind power with eight wind projects. The projects were split between RES and Northland.

All of the projects are using GE turbines.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in