The Public Sector Pension Investment Board (PSP Investments) now owns 49% of the Mont Sainte-Marquerite wind farm, while Pattern Energy Group owns the 51% remainder.
Pattern Energy Group acquired the majority stake from Pattern Development for approximately $40 million, which was funded using available liquidity, and will operate the facility.
Mont Sainte-Marguerite comprises 46 of Siemens Gamesa’s SWT-3.2-113 direct drive turbines and was commissioned in the first quarter of the year.
Utility Hydro-Quebec Distribution buys electricity from the site, which is located about 50km south of Quebec City in Canada under a 25-year power purchase agreement (PPA).
PSP Investments now has stakes in seven operational wind farms in Canada, including the 179MW Meikle project in British Columbia.