(financial close)
Mi’gmaq communities in Quebec to co-own new wind project in Gespe’gewa’gi (Gaspe Region)
The 102.2-megawatt wind farm will supply clean energy and economic benefits
Fast facts
The CIB’s $108.3 million loan includes a $15.8 million equity loan to the Mi’gmawei Mawiomi Business Corp. (MMBC), representing the Gesgapegiag, Gespeg and Listuguj Mi’gmaq communities. The loan improves the economic viability of their participation in the project.
The 102.2-megawatt project located in the Gaspésie-Îles-de-la-Madeleine region will be developed with Innergex Renewable Energy Inc.
The wind farm sits on the Mi’gmaq traditional territory of Gespe’gewa’gi. It will be located adjacent to the 150 MW Mesgi’g Ugju’s’n Wind Farm (MU1), also a 50/50 partnership between the Mi’gmaq Communities and Innergex.
MU2 will feature Nordex turbines, generating enough electricity to power 20,000 Quebec homes through a 30-year power purchase agreement with Hydro-Québec. The project supports the public utility’s Electricity Supply Plan, which forecasted a 12% rise in energy demand between 2019 and 2029.
Benefits of the CIB’s involvement
MU2 is expected to generate approximately 150 direct construction jobs, with a commitment to hire at least 30% of the workforce from local Mi’gmaq communities. Revenues will be reinvested into community initiatives.
Learn more
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