First Nations majority-owned wind project inks PPA with Hydro-Quebec, 20 May 2024

Canadian utility Hydro-Quebec has signed a power purchase agreement (PPA) to off-take electricity from a proposed 300-MW wind farm set to be located in the Cote-Nord region of Quebec...

The promoters of the project, and the PPA signatories, are the First Nations community The Innu Council of Pessamit, independent power producer Innergex Renewable Energy Inc (TSE:INE) and the regional county municipality of Manicouagan. The three signed a 30-year take-or-pay PPA, indexed to a predefined percentage of the consumer price index, Innergex said on Friday...

The wind project has been named Peshu Napeu, which was the Innu name of the advocate for indigenous consultation Barnabe Vachon. It is majority-owned by the Innu Council of Pessamit, which holds a 39% stake. Innergex and the RCM of Manicouagan own 38% and 23%, respectively...