Eolectric Club, L.P. and Fiera Axium Infrastructure Canada Limited Partnership have announced 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.

The construction has begun during the fall of 2012 and will continue until the beginning of commercial operation, scheduled to occur on December 1^st, 2014.

The project is located in the municipalities of Causapscal, Sainte-Marguerite-Marie and Sainte-Florence in the regional county municipality of Matapédia, Québec.

"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.

Source: Fiera Axium Infrastructure