The Haute-Chaudière Wind Project in Quebec Reaches Financial Close, Paving the Way for Construction Start

Financing secured through National Bank of Canada, CIBC, Desjardins Group, KfW IPEX-Bank and Sumitomo Mitsui Trust Bank

MONTRÉAL--(BUSINESS WIRE)--EDF power solutions Canada and Énergie Renouvelable Granit Inc. are proud to announce the successful closing of non-recourse construction and term financing for the Haute-Chaudière Wind project, a 124-megawatt (MW) project located in the Regional County Municipality (RCM) of Granit in Quebec. This critical milestone follows the recent authorization decree from the Government of Quebec, officially greenlighting the project’s implementation.

The required capital for the project has been secured through a consortium of lenders: National Bank of Canada, Canadian Imperial Bank of Commerce (CIBC), Desjardins Group, KfW IPEX-Bank, and Sumitomo Mitsui Trust Bank, Limited, New York Branch. National Bank Financial, CIBC, Desjardins Group, KfW IPEX-Bank and Sumitomo Mitsui Trust Bank, Limited, New York Branch each act as Coordinating Lead Arranger for the bank syndicate. The financing was structured to align with the Green Loan Principles with National Bank Financial, CIBC, Desjardins Group and Sumitomo Mitsui Trust Bank, Limited, New York Branch acting as Green Loan Coordinators. National Bank of Canada acted as the Administrative Agent.

The strong commitment from this group of lenders underscores the commercial viability and strategic importance of the Haute-Chaudière Wind project in advancing Quebec’s energy transition goals.

“Securing this financing is a powerful demonstration of confidence in the Haute-Chaudière project and our partnership with the local communities,” Amy Lloyd, CFO at EDF power solutions North America. “This project will not only add significant low-carbon capacity to the Hydro-Québec grid, but will also deliver substantial, long-term economic benefits directly to the region. Further, this financing marks the first construction financing for EDF power solutions Canada in nearly a decade, paving the way for future transactions.”

The Haute-Chaudière Wind project, located on private and public forest land in the municipalities of Frontenac, Audet, and the City of Lac-Mégantic, will feature 20 wind turbines connected to the Lac-Mégantic substation and will generate the equivalent energy needed for more than 20,000 homes annually.

The project contributes directly to the decarbonization of the Quebec economy while providing significant local benefits, including approximately CAD $60 million in shared revenues over 30 years for the 19 member municipalities of the RCM of Granit, and over CAD $18 million to host municipalities.

The construction phase of the project, which will create more than 150 jobs, commenced in November 2025, with the project anticipated to be commissioned in early 2027. The project is committed to collaboration with local companies and suppliers, ensuring sustainable development that is beneficial to the community.

Stikeman Elliott acted as legal counsel to the project for the transaction, with Blakes, Cassels and Graydon LLP acting on behalf of the lenders.

Haute-Chaudière Wind Project

Detail	Specification
Installed Capacity	124 MW
Wind Turbines	20 Vestas 6.2 MW wind turbine generators
Off-taker	30-year Power Purchase Agreement with Hydro-Québec
Financing Consortium	National Bank of Canada, CIBC, Desjardins Group, KfW IPEX-Bank, and Sumitomo Mitsui Trust Bank, Limited, New York Branch
Local Economic Impact	>$60 million in shared revenues for 19 municipalities over 30 years
Jobs Created (Construction)	>150 jobs
Expected Commissioning	Early 2027

About EDF power solutions North America

Bringing together the businesses of EDF Renewables and EDF Group International Division, EDF power solutions is an international energy player which develops, builds and operates low-carbon energy production facilities as well as flexible power ​and electricity transmission solutions.

In North America, EDF power solutions has been providing clean energy solutions throughout the U.S., Canada, and Mexico since 1987 as a market-leading independent power producer and service provider, serving utilities, corporations, industries, communities, institutions, and investors with reliable, low-carbon energy solutions to meet growing demand.

From developing and building scalable wind (onshore and offshore), solar, storage (battery and pumped storage hydropower), smart EV charging, microgrids, green hydrogen, and transmission projects, to maximizing performance and profitability through skilled operations, maintenance and innovative asset optimization, our teams deliver expert solutions along the entire value chain—from origination to commercial operation. Our portfolio consists of 23 gigawatts of developed projects and 16 gigawatts under service contracts.

EDF power solutions is an affiliate of the EDF Group, a world leader in power production. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Instagram, and Facebook.

About Énergie Renouvelable Granit Inc.

Énergie Renouvelable Granit Inc. (ERG) is a joint-stock company owned by the Granit RCM and its 19 municipalities. ERG's mission is to operate a business that generates electricity from a wind farm located in the Granit RCM. Together with EDF power solutions, ERG participates in the operation of the Haute-Chaudière Wind Farm with a shared vision of economic development and green energy for the benefit of its community.