Eolectric Inc. and Fiera Axium Infrastructure Inc. have announced the creation of an investment fund, Eolectric Club, L.P. The purpose of the Eolectric Club, L.P. is to invest in wind farm projects throughout Canada.
Eolectric Club L.P.’s investors are Eolectric Inc., Industrial Alliance Insurance and Financial Services Inc. and Fiera Axium Infrastructure Canada, Limited Partnership. The first investment of Eolectric Club, L.P. is into Vents du Kempt Wind Power, L.P. This new entity will pursue, as successor to Vents du Kempt Inc., the development, construction and operation of the 101.2MW wind farm, representing a total construction cost of approximately CAN$ 340 million. Eolectric Club, L.P. holds a 51% interest in Vents du Kempt Wind Power, L.P. and Fiera Axium Infrastructure Canada, Limited Partnership. 49%. The Vents du Kempt wind farm is composed of 44 wind turbines each having a nameplate capacity of 2.3MW to be built in the municipalities of Causapscal and Sainte-Marguerite-Marie in the municipal regional county of Matapédia, Quebec. The project has executed a 20 year power purchase agreement with Hydro-Quebec Distribution as a result of Eolectric’s successful bid in the 2005 call for tenders for 2,000MWs of wind power. The construction will begin this fall and will spread until its commercial operation scheduled to occur on December 1st 2014.
Eolectric Club L.P.’s investors are Eolectric Inc., Industrial Alliance Insurance and Financial Services Inc. and Fiera Axium Infrastructure Canada, Limited Partnership. The first investment of Eolectric Club, L.P. is into Vents du Kempt Wind Power, L.P. This new entity will pursue, as successor to Vents du Kempt Inc., the development, construction and operation of the 101.2MW wind farm, representing a total construction cost of approximately CAN$ 340 million. Eolectric Club, L.P. holds a 51% interest in Vents du Kempt Wind Power, L.P. and Fiera Axium Infrastructure Canada, Limited Partnership. 49%. The Vents du Kempt wind farm is composed of 44 wind turbines each having a nameplate capacity of 2.3MW to be built in the municipalities of Causapscal and Sainte-Marguerite-Marie in the municipal regional county of Matapédia, Quebec. The project has executed a 20 year power purchase agreement with Hydro-Quebec Distribution as a result of Eolectric’s successful bid in the 2005 call for tenders for 2,000MWs of wind power. The construction will begin this fall and will spread until its commercial operation scheduled to occur on December 1st 2014.
