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Pattern Energy, PSP Investments close acquisition of 147-MW wind farm in Quebec

Pattern Energy Group Inc. and the Public Sector Pension Investment Board, or PSP Investments, have jointly acquired the 147-MW Mont Sainte-Marguerite wind project in Quebec City from Pattern Energy Group LP, according to an Aug. 14 news release.

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Mont Sainte-Marguerite wind project in Quebec City

Source: Pattern Energy Group Inc.

The facility, which came online earlier this year, was acquired 51% by Pattern Energy and 49% by PSP Investments. Pattern Energy invested approximately $40 million for its share of the facility using available liquidity.

"This is our first wind power facility in Québec and our third project under the joint venture agreement with PSP Investments, underscoring the strategic value of our partnership," Pattern Energy CEO Mike Garland said.

Hydro-Québec unit Hydro-Québec Distribution purchases the output of the project under a 25-year power contract.