Quebec's Wind Energy Center Secures $800 Million in Funding from Various Sources
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Great news! The collaborative venture between Invenergy and the Alliance de l'énergie de l'Est—a unison of 209 municipalities and territories in Eastern Quebec—has successfully secured a whopping CAD 1.1 billion (around US$800 million) for the 350MW Pohenégamook-Picard-Saint-Antonin-Wolastokuk 1 PPAW 1 Wind Energy Center.
Previously selected by Hydro-Québec through a competitive tender in 2023, this project will be developed jointly by Invenergy and Alliance on a 50-50 equity basis. Construction is slated to kick off in 2025, with an intended launch of commercial operations by late 2026.
Powerful Economic and Local Impact
The much-anticipated PPAW 1 Wind Energy Center promises to generate 350Mw of energy, create 350 direct jobs, and reinforce Eastern Quebec’s position as a renewable energy leader, all while supporting the region's economy. Additionally, 100 manufacturing positions have already been established at Marmen Energie in Matane, Quebec [1]. Over a 30-year period, the project will distribute CAD 137 million in revenue to the shareholders of the Alliance de l'énergie de l'Est (including 16 regional county municipalities and the Wolastoqiyik Wahsipekuk First Nation), as well as CAD 45 million in fixed payments to the host communities [1].
The Des Neiges Secteur Sud Wind Project in Quebec, Boosted by $960M Financing
The financing backing the PPAW 1 Wind Energy Center is a collaborative effort led by Canadian and international institutions, with the help of a consortium of banks, including Desjardins Group, National Bank of Canada, CIBC, SMBC (Canada Branch), and Germany's KfW IPEX-Bank [1][2].
Vestas to Supply 56 Turbines for the Project
In a significant move, Danish wind turbine manufacturer, Vestas, secured a 347 MW order for the PPAW 1 Wind Energy Center in July 2024. The contract encompasses 56 EnVentus V162-6.2 MW units for supply, delivery, and commissioning, along with a multi-year AOM 5000 service agreement to ensure optimal performance [2]. The EnVentus platform provides modularity and high efficiency, making it an ideal choice for the challenging terrains of Eastern Quebec [3].
Proven Track Record in Quebec
Invenergy has already made a mark by developing and operating five wind energy centers in Quebec, contributing 390 MW of clean power to the region. By adding an additional 350 MW through the PPAW 1 Wind Energy Center, Invenergy cements its role in strengthening Quebec’s renewable energy leadership position [2].
Quick Facts About the PPAW 1 Wind Energy Center
- Project Name: Pohenégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1)
- Capacity: 350 MW
- Developers: Invenergy and Alliance de l'énergie de l'Est (50/50)
- Location: Eastern Quebec, Canada
- Financing: CAD 1.1 billion (US$800 million)
- Turbines: 56 × Vestas V162-6.2 MW
- Construction: 2025-2026
[1] [Source: Invenergy][2] [Source: National Bank of Canada][3] [Source: Marmen Énergie]
Job Creation: 350 direct jobs and 100 manufacturing positions at Marmen Énergie in Matane, Quebec [1]Community Impact: The project is expected to distribute C$137 million to Alliance de l’énergie de l’Est's shareholders and C$45 million in fixed payments to host communities over a 30-year period [1]
- The successful $1.1 billion financing for the PPAW 1 Wind Energy Center, a joint project between Invenergy and Alliance de l'énergie de l'Est, signifies a significant investment in the renewable-energy industry's business and finance sector.
- With construction slated to start in 2025, the PPAW 1 Wind Energy Center promises to create 350 direct jobs, reinforcing its impact on project management and the local economy.
- The PPAW 1 Wind Energy Center's 56 turbines, supplied by Vestas, are an essential component of Invenergy's ongoing efforts to expand its presence in the energy sector and strengthen Quebec’s position as a renewable energy leader.
- Over a 30-year period, the PPAW 1 Wind Energy Center is expected to generate significant returns for the Alliance de l'énergie de l'Est, including CAD 137 million in revenue and CAD 45 million in fixed payments to the host communities, supporting both the regional economy and the industry's renewable energy initiatives.
