A major milestone has been achieved in Canada’s renewable energy sector as the Des Neiges, Secteur sud wind power project in Quebec officially secures $960 million in financing. Further, this significant development involves a Canadian consortium led by Boralex, in partnership with Énergir Développement and Hydro-Québec. Together, these affiliates form La Société de projet BVH1, the special purpose company behind the initiative.
Located on the private lands of Seigneurie de Beaupré in the Côte-de-Beaupré region, this 400MW wind project is currently under construction. Once completed, it will mark a major step forward in Quebec’s journey toward energy independence and climate resilience.
Strong Financial Structure to Support Long-Term Growth
The total investment for the Des Neiges, Secteur sud project is approximately $1 billion. The financing package includes a $733 million construction loan, which will convert into a term loan once electricity delivery begins in Q4 2026. In addition, a $170 million bridge loan has been arranged to finance the reimbursement expected for the project’s switchyard. Furthermore, a $57 million guarantees facility rounds out the funding structure, ensuring financial stability and risk management. In addition, Desjardins Group is serving as the Administrative Agent for the financing, showcasing the strength of Quebec-based financial institutions in supporting green infrastructure.
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Economic and Social Impact in Côte-de-Beaupré
Beyond energy generation, the project is set to deliver substantial economic benefits. During the construction phase, it will create approximately 500 jobs, stimulating local employment and economic activity. Once operational, around 15 permanent positions will be established for maintenance and operations.
Moreover, over $80 million is expected to be distributed to host communities exclusively for the Secteur sud project. This commitment underscores the developers’ dedication to community involvement and shared prosperity.
Des Neiges Secteur Sud wind project Quebec Overview
Location: Unorganized territory of Lac-Jacques-Cartier, within the Regional County Municipality (RCM) of La Côte-de-Beaupré, Quebec, Canada
Project Name: Des Neiges – Secteur Sud Wind Farm
Installed Capacity: 400 megawatts (MW)
Number of Wind Turbines: 57
Estimated Investment: Approximately $1 billion CAD
Financing Structure:
Total financing secured: $960 million CAD
Includes a $733 million construction loan, converting to a term loan upon electricity delivery commencement
A $170 million bridge loan for switchyard reimbursement
A $57 million guarantees facility
Desjardins Group serves as the Administrative Agent for this financing
Project Developers:
La Société de projet BVH1, a consortium comprising:
Boralex Inc.
Énergir Développement Inc.
Hydro-Québec
General Contractor: Borea Construction
Construction Timeline:
Preliminary work commenced in December 2024
Full-scale construction scheduled to begin in early 2025
Expected to be operational by December 2026
Economic Impact:
Approximately 500 jobs anticipated during the construction phase
Around 15 permanent positions for operations and maintenance
Over $80 million CAD to be distributed among host communities over 30 years
Partners Emphasize Collaboration and Sustainability
Hugues Girardin, Executive Vice President and General Manager, North America at Boralex, expressed pride in the long-standing partnership with Énergir and Hydro-Québec. “This collaboration enables us to bring the Des Neiges – Secteur sud project to life, contributing to Quebec’s energy independence and sustainable economic development,” he noted.
For nearly 15 years, Boralex and its partners have successfully developed wind farms in the Seigneurie de Beaupré, setting a strong foundation for this latest venture.
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Constructing Des Neiges Secteur Sud wind project Quebec with Local Support
Preliminary construction activities began in December 2024 under the direction of general contractor Borea Construction. Additionally, in the coming months, Borea will work closely with Quebec-based companies and suppliers to carry out the bulk of the site work—ensuring the project remains local, efficient, and beneficial to the regional economy. What’s more, with its robust financing and community-focused vision, the Des Neiges – Secteur sud wind project stands as a model for future renewable energy initiatives across Canada.
