Submitted image EDF Renewables
A map provided by EDF Renewables show the project area of the company's Cypress Wind Farm in southeastern Alberta.
cgallant@medicinehatnews.com@CollinGallant
Canada’s largest financial co-operative is set to acquire a majority ownership stake in a wind farm project southeast of Dunmore, it was announced late Wednesday by the Desjardins group.
The Quebec-based credit union will buy a 40.5 per cent share in the wind farm after it is built next summer by EDF Renewables. That Canadian subsidiary of the French energy company will retain 34.5 per cent, with the remaining shares held by the Blood Tribe in southwest Alberta.
The 48-turbine project was awarded a long-term supply contract during last fall’s renewable energy supply auction. The $300 million-plus project is scheduled to be in operation in 2021.
“Desjardins has made it a priority to invest in green infrastructure, reflecting our commitment to a fair energy transition,” said Desjardin Group president Guy Cormier in a statement, adding that the firm has already invested $1.2 billion globally in green energy projects.
“Desjardins is proud to contribute to the Cypress Wind Project.”
The project will be part of holdings under the group’s pension plan, which today boasts $12.9 billion in assets and 66,000 members.
In total, the co-op’s assets under management total $304 billion.
Near Dunmore, the 200-megawatt facility project would be spotted on sites spread over 13,240 acres of private land west of Highway 41 and south of Township Road 110.
This month, Cypress County planning commission approved two meteorological towers in the area to allow the company to further study weather patterns.
The project is expected to employ 250 workers during construction, then 10 full-time employees at a new shop building over the course of its 25- to 30-year lifespan.
Alberta’s Renewable Energy program awarded contracts totalling 760 megawatts of capacity to six projects in late 2018, including two wind farms near Jenner. They will supply power to the Alberta gird at a weighted price of between 3.4 and 4.0-cents per kilowatt hour.
The new United Conservative government has stated it will honour contracts that are already in place, but halt future auctions until the program is reviewed.
New project open house
A proposal to build a 400-megawatt wind farm along the Highway 41 corridor south of the Trans-Canada Highway will be the subject of an open house in Medicine Hat next week.
Engie, a French-based utility with extensive operations serving industrial customers in North America, is proposing the “Buffalo Trail Wind” power project.
Representatives and agents for the Canadian subsidiary will be on hand at the Kinplex Social Room in Medicine Hat on Thursday, June 27 from 5-8 p.m.
