The three Mi’gmaq communities of Quebec and Innergex Renewable Energy are proud to announce that the 150 MW Mesgi’g Ugju’s’n wind farm, located in Gaspésie, Quebec, has begun commercial operation.
The project is owned by the Mesgi’g Ugju’s’n (MU) Wind Farm, L.P., an entity controlled 50-50 by the three Mi’gmaq
communities of Quebec – Gesgapegiag, Gespeg and Listuguj and by Innergex, which was in charge of the management of the construction and will be responsible for the operation of the wind farm. The project is located on public lands in the Avignon Regional County Municipality in Quebec. Construction began in May 2015 and was completed within budget.
“The completion of construction represents a historic moment for our assembly, the Mi’gmawei Mawiomi, and the Mi’gmaq communities,” notes Troy Jerome, outgoing president of the board for the Mesgi’g Ugju’s’n wind farm.
“By employing 110 workers from the Mi’gmaq community during the construction of the project, we have shown that such projects can contribute to the social and economic development of the Mi’gmaq communities. With the start of electricity generation, four Mi’gmaq technicians are also at work on a full-time basis as part of the team that will keep these turbines maintained and running. We also extend our recognition to the project’s two main contractors, Borea construction and Senvion, for their efforts in attaining these employment goals,” adds Mr. Jerome.
“It is an honour for Innergex to have been chosen as a partner for the Mesgi’g Ugju’s’n project, particularly since it is the first wind project completed in partnership with an Indigenous Nation in Quebec. It is a project of an exceptional scale that was developed under the leadership of the Mi’gmaq communities,” states Michel Letellier, President and Chief Executive Officer of the Corporation.
The average annual production of the Mesgi’g Ugju’s’n wind farm is estimated to reach 562,500 MWh, enough to power about 30,000 Quebec households each year. In its first full year of operation, it is expected to generate revenues and Adjusted EBITDA of circa $59.6 million and $52.5 million respectively. All of the electricity the facility will produce is covered by a 20-year fixed-price power purchase agreement with Hydro-Québec, which provides for an annual adjustment to the selling price based on a portion of the Consumer Price Index.
About Innergex Renewable Energy Inc.
The Corporation develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms
and carries out its operations in Quebec, Ontario and British Columbia, Canada, in Idaho, USA, and in France. Its portfolio of assets currently consists of: (i) interests in 46 operating facilities with an aggregate net installed capacity of 909 MW (gross 1,533 MW), including 29 hydroelectric facilities, 16 wind farms and one solar farm; (ii) interests in two projects under construction with an aggregate net installed capacity of 71 MW (gross 107 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totalling 3,280 MW (gross 3,530 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P.
The Corporation’s strategy for building shareholder value is to develop or acquire high-quality facilities that generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital and to distribute a stable dividend.
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