Invenergy, North America's largest privately held clean energy developer, and the Alliance de l’énergie de l’Est, a consortium representing 209 municipalities and communities in Eastern Quebec, have closed CAD 1.1 billion (USD 802.2m) in financing for the Pohénégamook-Picard-Saint-Antonin-Wolastokuk 1 (PPAW 1) Wind Energy Centre.

The joint project, selected by Hydro-Québec in 2023, will add 350 megawatts (MW) of clean energy to the grid upon its expected completion in late 2026. Construction will span 2025–2026, generating an estimated 350 construction jobs and 100 new manufacturing positions at Marmen Énergie in Matane, QC.

Over a 30-year period, PPAW 1 will distribute CAD 137 million (USD 99.7 million) to the Alliance’s shareholders, including 16 regional county municipalities and the Wolastoqiyik Wahsipekuk First Nation, with an additional CAD 45 million (USD 33.7 million) in fixed payments to host communities.

The financing combines equity investments from project partners with loans from major Canadian and international financial institutions, including Desjardins Group, National Bank of Canada, CIBC, SMBC, and KfW IPEX-Bank GmbH. The structure follows Green Loan Principles.

"This project reflects our values and commitment to community-led clean energy," said Louis Robert, Vice President of Development – Renewable Energy at Invenergy.

The PPAW 1 Centre marks Invenergy’s sixth wind project in Quebec, bringing its regional capacity to over 740 MW.