La Société de projet BVH1, s.e.n.c. Announces a $960 Million Financing for Des Neiges – Secteur sud Wind Project

Core Points - The Des Neiges - Secteur sud wind power project has secured $960 million in financing and is currently under construction, with a total capacity of 400 MW [1][10] - The project is expected to significantly contribute to the economic development of Côte-de-Beaupré and enhance Québec's economic and climate resilience, representing an investment of around $1 billion [2] - Approximately 500 jobs will be created during the construction phase, with around 15 jobs during operation and maintenance [2] - The project will distribute over $80 million to host communities, specifically for the Secteur sud project [2] - The project aims to generate 1.2 TWh of energy annually, enough to power about 70,000 homes or 325,000 electric vehicles [6] Financial Highlights - The financing structure includes a $733 million construction loan, a $170 million bridge loan, and a $57 million guarantees facility [8] - The construction loan will convert to a term loan upon the start of electricity deliveries, expected in Q4 2026 [8] Project Development - Borea Construction has been mobilized for preliminary work since December 2024, with site work scheduled to begin in the coming months [5] - The project is the first of three potential 400 MW wind power projects planned for the Seigneurie de Beaupré private lands [6] Company Collaboration - Boralex, Énergir, and Hydro-Québec are collaborating on this project, emphasizing the importance of partnerships in achieving energy independence and sustainable growth for Québec [3]