Elecnor finalises deal for Canadian investment fund to take stake in L'Érable wind farm

3 december 2014

Madrid, 3 December 2014.- Elecnor, through its wind energy development subsidiary, Enerfin, has finalised the deal announced in June with Canadian fund Eolectric Club Limited Partnership taking a 49% stake in the 100 MW L'Érable wind farm, located in Quebec. Enerfin, with a 51% stake, remains the majority shareholder and retains the management and operation of the farm. 

The total outlay of this operation, which was made through a share issue, was 71.8 million Canadian dollars.

Eolectric Club LP's backers are Industrialist Alliance Insurance and Financial Services Inc., one of the biggest insurance companies in Canada; Fiera Axium Infraestructures Canada LP, an investment fund controlled by Fiera Capital Corporation and Axium Infraestructures Management; and Eolectric Inc., one of the main wind energy developers in the province of Quebec. 

On 16 November, the L'Érable facility celebrated its first year of operation, with power generation and availability significantly greater than originally estimated.  

This deal reinforces the Group's strategy of strengthening its development activity in Canada, where Enerfin is already studying new wind projects in the provinces of Ontario, Quebec and British Columbia.