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Transaction/Case Details

Pattern Development completes financing and starts construction of 147 MW Mont Sainte-Marguerite Wind Project in Québec

DATE CLOSED

March 7, 2017

BUSINESS SECTOR

Power

LEAD OFFICE

Montreal

VALUE

263 Million CAD


OVERVIEW

On March 7, 2017, Pattern Energy Group LP (“Pattern Development”) announced the completion of a C$263 million construction-to-term financing for its 147 megawatt (MW) Mont Sainte-Marguerite Wind project, which is now entering full-stage construction. Financing was provided by The Manufacturers Life Insurance Company, Caisse de dépôt et placement du Québec and Bayerische Landesbank, and fully amortizes over the term of the project’s 25-year power purchase agreement with Hydro-Québec.

Mont Sainte-Marguerite Wind is a project located approximately 50 kilometers south of Québec City, in the Chaudière-Appalaches region of Québec.

McCarthy Tétrault LLP acted for the developer (Pattern Energy Development L.P. via Mont Saint-Marguerite L.P., the owner of the assets) for all real estate aspects in the context of the development  including with the acquisition of all real rights and the issuance of authorizations from the Agricultural Board.  The McCarthy Tétrault team was led by Danielle Drolet. 

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Energy
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