WATERLOO, ON, October 5, 2018
Diverso Energy and Eolectric Capital Inc. announce $55 million Geothermal Utility partnership
MONTREAL, December 13, 2017
Sharp Hills Wind Farm awarded a 20-year Renewable Energy Support Agreement
MONTREAL, October 16, 2017
Inauguration of the 4.8 MW Biomont cogeneration power plant
MONTREAL, October 3, 2017
Fighting climate change
Eolectric Club and Fiera Axium announce financial closing of the Vents du Kempt Wind Farm
BROSSARD, June 10th, 2013 –Eolectric Club, L.P. and Fiera Axium Infrastructure Canada Limited Partnership are pleased to announce that the Vents du Kempt wind power project has reached closing of its senior debt provided by co-arrangers KfW IPEX-Bank GmbH and The Manufacturers Life Insurance Company as well as Caisse de Dépôt et Placement du Québec.
This financing represents one of the first long term loan to a Canadian wind farm combining both institutional and bank facilities. Eolectric Club, L.P. holds a 51% interest in Vents du Kempt Wind Power, L.P., the remaining 49% interest being held by Fiera Axium Infrastructure Canada, Limited Partnership.
The Vents du Kempt wind farm is the first project outside of Europe to place a firm order for the new ENERCON E92 turbine model. The 101 MW project, which executed a 20 year power purchase agreement with Hydro-Quebec Distribution as a result of the 2005 call for tenders for 2,000 MW of wind power, is composed of forty-three 2.35 MW wind turbines. As required by a decree issued by the Quebec Government, major components of the wind turbines will be manufactured in the administrative region of Gaspésie, Iles de la Madeleine and in the regional county municipality of Matane, therefore creating significant industrial spinoff in the region. The construction has begun during the fall of 2012 and will continue until the beginning of commercial operation, scheduled to occur on December 1st, 2014. The main contractors on site have been EBC Inc., based in Québec City, as well as Société d’Exploitation des Ressources de la Vallée Inc., based in Lac-au-Saumon, Québec.
The project is located in the municipalities of Causapscal, Sainte-Marguerite-Marie and Sainte-Florence in the regional county municipality of Matapédia, Québec. Agreements with fifty-nine landowners were executed in order to accommodate the majority of turbines and related infrastructure. Vents du Kempt has benefited from the continued support of municipalities and numerous landowners since the first land option was signed in 2002, therefore creating a fruitful partnership with all stakeholders.
"Financial closing is a major milestone in the development of the Vents du Kempt project, for which success is driven by strong local support, outstanding partners, as well as significant technical and financial innovation", said Guy Painchaud, President of Eolectric Management Inc. on behalf of the Eolectric Club, L.P.
"We are delighted to add this first Quebec renewable energy investment into our portfolio and be part of this very important project for the region", declared Stéphane Mailhot, President and Chief Operating Officer of Fiera Axium Infrastructure Inc. on behalf of Fiera Axium Infrastructure Canada, L.P.
About the Project Sponsors :
Éolectric inc. : Eolectric Inc., located in Brossard, Québec, is one of the major wind power developer in Canada. A pioneer in this flourishing industry, Eolectric and its affiliates have been involved in the development, construction and operation of wind farm projects throughout Canada and Mexico since 1994. With various partners, Eolectric has developed wind farms representing a total capacity of 693 MW which are currently under construction or in operation. It has successfully assembled a portfolio of wind power projects in Canada and Mexico totalling an aggregate capacity of 2,000 MW. Eolectric has also developed management activities, including management and administrative services to both Eolectric Club L.P. and Vents du Kempt Wind Power, L.P. Eolectric lives by and adheres to high standards of sustainable development and social acceptability.
Eolectric Club L.P. : Eolectric Club, L.P. is an investment fund in wind power projects throughout Canada. Eolectric Club L.P.’s investors are Eolectric Inc., Industrial Alliance Insurance and Financial Services Inc. and Fiera Axium Infrastructure Canada, Limited Partnership. Eolectric Club L.P. may invest in projects developed by Eolectric and affiliates or by other third party developers.
Fiera Axium Infrastructure inc. : Fiera Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Focus is placed on assets that are supported by robust market demand, under long-term contract with creditworthy counterparties, within concession-based structures or under a regulated framework. The firm combines the capabilities of a group of professionals with extensive infrastructure development and management backgrounds, with the fund management expertise of one of Canada’s leading independent fund managers in Fiera Capital Corporation (TSX: FSZ). Its management team comprises infrastructure investment specialists with decades of combined experience acquiring, developing, financing, operating and managing infrastructure assets. Fiera Axium Infrastructure is jointly controlled by Fiera Capital and Axium Infrastructure Management. For more information on Fiera Axium Infrastructure, please visit its website www.fieraaxium.com
Industrial Alliance: : Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company with operations in all regions of Canada as well as in the United States. The Company offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services for both individuals and groups. The fourth largest life and health insurance company in Canada, Industrial Alliance contributes to the financial wellbeing of over three million Canadians, employs more than 4,300 people and manages and administers more than $83 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.