Quebec's Wind Energy Center, PPAW 1, secures a massive US$800 million in financial backing.
Get Ready to Gear Up for the PPAW 1 Wind Energy Center!
Lean in as we dive into the scoop on the Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1) Wind Energy Center, a groundbreaking renewable energy project flaming up Eastern Quebec, Canada!
This baby's set to churn out a massive 350 MW of energy and create some serious job opportunities. Here's the lowdown!
Big Economic and Regional Growth
Expect big things from the PPAW 1 Wind Energy Center, including a heavy hit to the region's labour market. The project is estimated to throw down 350 direct employment opportunities during construction and an additional 100 manufacturing jobs have already been set in motion at Marmen Energie in Matane, Quebec. Over a 30-year period, the project will distribute a whopping CAD 137 million in revenue to shareholders from the Alliance de l'énergie de l'Est—including 16 regional county municipalities and the Wolastoqiyik Wahsipekuk First Nation—plus an extra CAD 45 million in fixed payments to host communities.
The Financing Scoop
The financing for this beast of a project includes a mix of equity and credit facilities. Equity is chipped in by Invenergy and the Alliance, while the remaining dough comes from a consortium of banks:
- Administrative Agent: Desjardins Group
- Green Loan Coordinator & Documentation Agent: National Bank of Canada
- Coordinating Lead Arrangers: Desjardins Group, CIBC, SMBC (Canada Branch), and Germany's KfW IPEX-Bank
"This financing reflects our global expertise and deep local roots in Quebec," said Louis Robert, VP of Development - Renewable Energy at Invenergy.
Vestas Amps Up the Game
Danish wind turbine manufacturer Vestas is by our side, supplying 56 EnVentus V162-6.2 MW units for the project. The scope includes supply, delivery, and commissioning, along with a multi-year AOM 5000 service agreement to guarantee optimal performance.
The EnVentus platform rocks modularity and customizable configurations, making it a strategic pick for the challenging terrains of Eastern Quebec.
That's Not All, Folks!
If you think we're winding down after that, think again! You'll be happy to know that Invenergy has already put its muscle behind five wind energy centers in Quebec, delivering over 390 MW of clean power. By adding the PPAW 1 Wind Energy Center into the mix, we're set to bolster Quebec's leadership in renewable energy, leaving Mother Earth smiling and the nouveau riche of green energy toothless!
Quick Facts
- Project Name: Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1)
- Capacity: 350 MW
- Developer: 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
- Operation: Expected late 2026
- Jobs Created: 350 (construction) + 100 (manufacturing)
- Community Impact: CAD 137M to shareholders; CAD 45M to host communities
The PPAW 1 Wind Energy Center, under development by Invenergy and Alliance de l'énergie de l'Est, is not only poised to generate 350 MW of renewable energy but also create 350 direct employment opportunities during construction and 100 manufacturing jobs. The construction of the center will significantly contribute to the regional economy, dispersing CAD 182 million to stakeholders over a 30-year period.
The financing for this project involves a mix of equity and credit facilities, with Invenergy and the Alliance as equity providers, and a consortium of banks, including Desjardins Group, National Bank of Canada, CIBC, SMBC (Canada Branch), and Germany's KfW IPEX-Bank, providing the remaining capital.
Vestas, a Danish wind turbine manufacturer, is partnering with the PPAW 1 Wind Energy Center, supplying 56 EnVentus V162-6.2 MW units and a multi-year service agreement to maintain optimal performance. This strategic partnership will leverage the EnVentus platform's modularity and customizable configurations to tackle the challenging Eastern Quebec terrains.
