Wind project owned by First Nations majority inks PPA with Hydro-Quebec

Hydro-Quebec, a Canadian utility, has recently entered into a power purchase agreement (PPA) to acquire electricity from a planned 300-MW wind farm in the Cote-Nord region of Quebec.

The project is supported by 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. Innergex announced on Friday that the three parties have entered into a 30-year take-or-pay power purchase agreement, which is tied to a predetermined percentage of the consumer price index.

The wind project has been given the name Peshu Napeu, in honor of Barnabe Vachon, a strong advocate for indigenous consultation. The Innu Council of Pessamit holds a 39% stake in the company, giving them majority ownership. Innergex and the RCM of Manicouagan each own a significant portion of the project, with Innergex holding 38% and the RCM of Manicouagan holding 23%.

The Peshu Napeu project is currently in the development phase, with several tasks such as supplier contracts and permits still pending. The partners anticipate the wind farm to be operational by 2029.

The project was chosen by Hydro-Quebec in its onshore wind tender in January 2024. Innergex achieved success with two projects in the tender, namely the Peshu Napeu and the 100-MW Lotbiniere Ndakina. The PPA for the latter was finalized in April.