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Desjardins Group Pension Plan to acquire portion of Cypress Wind Project

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Christian Fernsby ▼ | June 20, 2019
Cypress Wind Project
Acquisition   Cypress Wind Project

The Desjardins Group Pension Plan (DGPP) has committed to acquire, upon completion of construction and upon certain other terms and conditions, a portion of EDF Renewables Canada's stake in the Cypress Wind Project.

The Project will consist of 48 turbines with a total capacity of 201.6 megawatts and will be located southeast of Medicine Hat, Alberta in Cypress County.

It will support energy transition in the region using a responsible and sustainable approach to economic development.

DGPP will own 40.5% of the Project, EDF Renewables Canada will hold 34.5%, and the Blood Tribe, a First Nation located at Stand Off, Alberta and advised by Indigena Capital, LP, will own the remaining 25% stake.

The Project will be developed, built, and operated by EDF Renewables Canada, which has developed ten wind farm projects across Canada to date.

Construction will start in 2020 and is expected to be operational by 2021.

The Cypress Wind Project will be developed in collaboration with the local communities, to ensure it is carried out in a manner that is respectful of the needs, heritage and future of Cypress County.

The Project is expected to create 250 jobs at peak construction and provide up to 10 long-term positions during its operational life.

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