Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund (Desjardins) has acquired a stake in two Canadian wind projects from EDF.
Desjardins now owns 37.5% of the Cypress 1 & 2 sites, totalling 247MW, while EDF Renewables Canada now holds 37.5%, and the Blood Tribe, a First Nation located at Stand Off, Alberta, owns the remaining 25% stake.
The projects have been developed, built and operated by EDF Renewables Canada.
Construction started in 2020, creating 250 jobs at its peak, and the sites became operational in 2022 and 2023.
“Desjardins is proud to invest alongside the Blood Tribe and EDF Renewables Canada Inc. in the Cypress wind projects,” said Frederic Angers, vice president and chief information officer, private markets at Desjardins Global Asset Management.
The Cypress 1 Project is one of five wind sites selected to enter into a Renewable Electricity Support Agreement with the Alberta Electric System Operator in round two of the competitive procurement process for its Renewable Electricity Program, which was launched in March 2018.
