Forêt Domaniale Wind Project Achieves Financial Close
EDF solutions électriques and Alliance de l’énergie de l’Est have officially reached a major milestone in the development of renewable energy in Canada with the successful financial closing of the Forêt Domaniale Wind Project. This achievement marks a critical step forward for the 185.6-megawatt (MW) wind energy project, which recently received the necessary government decree authorizing its development. With financing now secured, the project is set to transition fully into its construction phase, reinforcing Quebec’s leadership in clean energy deployment and sustainable regional development.
The financial closing represents a coordinated effort among leading financial institutions, demonstrating strong confidence in both the viability and long-term value of the project. The capital required to bring the wind farm to fruition has been arranged by a consortium of major lenders, including Desjardins Group, Canadian Imperial Bank of Commerce, National Bank of Canada, KfW IPEX-Bank, and MUFG. Serving as administrative agent, Desjardins Group played a central role in structuring the financing package and ensuring smooth coordination among stakeholders.
Importantly, the financing has been aligned with internationally recognized Green Loan Principles, underscoring the project’s environmental credentials and its contribution to sustainable development. Desjardins Group, Canadian Imperial Bank of Commerce, National Bank of Canada, and MUFG acted as coordinators to ensure that the financing framework adheres to these principles. This alignment not only reinforces the project’s environmental integrity but also enhances its attractiveness to investors seeking climate-aligned opportunities.
Amy Lloyd, Chief Financial Officer of EDF power solutions North America, emphasized the broader significance of this milestone. She noted that the successful closing reflects both the economic strength and the strategic importance of the Forêt Domaniale Wind Project in supporting Quebec’s clean energy ambitions. She also highlighted the value of collaboration with local communities, stating that such partnerships are essential to delivering projects that provide both environmental and economic benefits. Lloyd expressed appreciation to the financial partners whose support has enabled the project to move forward with confidence into construction.
Located in the municipalities of Cap-Saint-Ignace, Notre-Dame-du-Rosaire, and Sainte-Apolline-de-Patton within the Regional County Municipality of Montmagny in the Chaudière-Appalaches region, the Forêt Domaniale Wind Project is designed to be a key addition to the province’s renewable energy infrastructure. The wind farm will consist of 30 turbines, including 28 Vestas 6.2 MW units and 2 Vestas 6 MW units. These turbines will be connected to Hydro-Québec’s grid via a substation in the Montmagny area, ensuring efficient transmission of clean electricity to the provincial network.
The project is structured as an equal partnership between EDF solutions électriques and Alliance de l’énergie de l’Est, with each party holding a 50% stake. This joint ownership model reflects a balanced approach that combines the technical expertise and global experience of EDF with the regional insight and community focus of the Alliance. Such collaboration is increasingly seen as a best practice in renewable energy development, particularly in projects that aim to deliver long-term local benefits.
Michel Lagacé, President of Alliance de l’énergie de l’Est, emphasized the importance of the project from multiple perspectives. He expressed gratitude to the financial partners for recognizing the value of an initiative that delivers environmental, social, and economic gains. According to Lagacé, the Forêt Domaniale Wind Project represents a significant step forward not only for Quebec as a whole but especially for Eastern Quebec, where the project is expected to create lasting positive impacts.
One of the most notable aspects of the project is its commitment to delivering tangible benefits to local communities. Over its operational life, the wind farm is expected to generate approximately CAD $198 million in net distributions for its stakeholders. These include the 15 member communities of the Alliance de l’énergie de l’Est, the Magdalen Islands Maritime Community, and the Wolastoqiyik Wahsipekuk First Nation. This revenue-sharing model ensures that the economic advantages of renewable energy development are distributed equitably, supporting community growth and resilience.
In addition to long-term financial benefits, the project will also provide immediate economic stimulus through job creation. With construction already underway since January 2026, the transition into full-scale development is expected to generate more than 250 jobs. These employment opportunities will span a range of roles, from construction and engineering to logistics and project management. The project partners have also committed to prioritizing local businesses and suppliers, further amplifying the economic impact within the region.
From an environmental standpoint, the Forêt Domaniale Wind Project will play a crucial role in advancing Quebec’s decarbonization efforts. By adding 185.6 MW of renewable capacity to the Hydro-Québec grid, the project will contribute to reducing greenhouse gas emissions and supporting the province’s transition to a low-carbon economy. The long-term power purchase agreement with Hydro-Québec, spanning 30 years, provides a stable framework for delivering clean electricity while ensuring predictable revenue streams for the project.
The timeline for the project reflects a well-structured development plan. Following the completion of preparatory work earlier in 2026 and the recent financial close, construction activities are set to accelerate. The wind farm is scheduled to begin operations in the fourth quarter of 2027, marking the culmination of years of planning, collaboration, and investment.
Legal support for the transaction was provided by Stikeman Elliott, which acted as counsel to the project, while Blake, Cassels and Graydon LLP represented the lenders. Their involvement ensured that the financing arrangements were executed efficiently and in compliance with all regulatory requirements.
Overall, the successful financial closing of the Forêt Domaniale Wind Project represents a landmark achievement in Quebec’s renewable energy landscape. It highlights the growing momentum behind clean energy investments and demonstrates the effectiveness of collaborative approaches that integrate financial, technical, and community stakeholders. As the project moves into construction and ultimately into operation, it is poised to deliver lasting environmental benefits, economic opportunities, and a strong contribution to the province’s sustainable future.
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