Canada’s renewable energy momentum continues to surge, with EDF and Granit Renewable Energy securing a major green financing package to bring the 124 MW Haute-Chaudiere Wind Project to life. Backed by a strong syndicate of banks and aligned with Green Loan Principles, this project is set to reshape Quebec’s wind power landscape. In this blog, we break down the financial deal, the project’s scope, and its implications for the future of clean energy in Canada.

The Haute-Chaudiere project is backed by a robust, non-recourse financing package structured to fund both the construction and long-term operation of the wind farm. While the exact funding amount remains undisclosed, the structure follows Green Loan Principles, reinforcing the project’s environmental integrity. Spearheaded by EDF and Granit Renewable Energy, the financial consortium includes major institutions such as National Bank of Canada, CIBC, Desjardins, Sumitomo Mitsui Trust Bank, National Bank Financial, and KfW IPEX-Bank. These institutions serve in roles ranging from administrative agent to green loan coordinators, showcasing high investor confidence in the project's sustainability and economic potential.

Situated across the municipalities of Frontenac, Audet, and Lac-Megantic, the Haute-Chaudiere Wind Project will comprise 20 high-capacity Vestas turbines, each rated at 6.2 MW. With a total installed capacity of 124 MW, this project is designed to deliver clean, renewable energy to Quebec’s grid through the Lac-Megantic substation. The entire output is secured under a 30-year power purchase agreement (PPA) with Hydro-Quebec, providing long-term revenue certainty and reinforcing the province’s commitment to green energy. Construction, which began in November 2025, is expected to conclude with commissioning in early 2027.
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The Haute-Chaudiere Wind Project is more than just a power plant—it’s a statement of Canada’s dedication to net-zero ambitions. By harnessing wind power at scale, it will help displace emissions and stabilize energy costs in the region. The long-term PPA with Hydro-Quebec ensures that the energy produced will be both economically viable and environmentally responsible. Legal guidance from Stikeman Elliott for the sponsors and Blakes, Cassels and Graydon LLP for the lenders ensured a smooth deal execution. As construction progresses, the project will also generate local employment, bolster regional development, and serve as a model for future green infrastructure in Canada.

As Canada accelerates its clean energy transition, the Haute-Chaudiere Wind Project stands tall as a beacon of sustainable development. With construction underway and long-term partnerships in place, this wind farm is poised to deliver power and purpose for decades.

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