Government of Quebec Signs New Wind Power Purchase Agreement
- Wall Street ends week positively; S&P 500, Dow hit record highs
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
RES wind project sold to First Nation Partnership; Secures Power Purchase Agreement
MONTREAL, Feb. 4, 2021 /PRNewswire/ -- RES is pleased to announce that Hydro-Quebec has signed a Power Purchase Agreement with Parc éolien Apuiat S.E.C., a partnership between the Innu First Nation communities in Quebec and Boralex Inc. The Partnership is concurrently purchasing the 200MW wind project from RES, which is located in the Côte-Nord region of Québec, Canada.
RES launched the development of the site in 2012 and teamed in 2016 with Boralex to develop the Apuiat project. This is a flagship project for participating Innu First Nation communities who shall be project owners alongside Boralex, situated on their Nitassinan (traditional territories), with RES today selling down its interest to the long-term owners.
RES and Boralex worked together on the permitting and design of the project, drawing upon RES' 39 years of experience developing renewable energy projects in Québec and around the globe. The Apuiat project will create approximately 300 jobs during construction, with approximately 10 permanent jobs staying in the region to maintain operations over 30 years.
"As a company which is committed to decarbonizing all electricity generation, RES is proud to have initiated the Apuiat project and helped the Government of Quebec's commitment to clean power," said Peter Clibbon, RES Senior VP of Development. "Our partnership with Boralex allowed us to advance a high-quality project which both aligns with community interests and values, as well as contributing to reducing the effects of climate change."
About RES RES is the world's largest independent renewable energy company active in onshore and offshore wind, solar, energy storage, transmission and distribution. At the forefront of the industry for 39 years, RES has delivered more than 19 GW of renewable energy projects across the globe and supports an operational asset portfolio exceeding 7 GW worldwide for a large client base. RES has secured 1.5 GW of power purchase agreements (PPAs) enabling access to energy at the lowest cost. RES employs more than 3,000 people and is active in 10 countries.
RES in Canada is headquartered in Montréal and has developed 1100MW of constructed wind project in Québec and built a further 800MW in the rest of Canada.
View original content to download multimedia:http://www.prnewswire.com/news-releases/government-of-quebec-signs-new-wind-power-purchase-agreement-301222549.html
SOURCE Renewable Energy Systems Limited
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Branded Research Inc. Allows Users to Make Money Online Taking Surveys on Their Platform
- Boutique Air Announces New Las Vegas-Merced Route
- Contego Medical Receives CE Mark Approval for Next Generation Carotid Stent
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!