Desjardins acquires a portion of EDF Renewables Canada Inc.’s stake in Cypress 1 & 2 wind projects
August 1, 2023
The Desjardins Group Pension Plan and DGAM Global Private Infrastructure Fund have closed on the acquisition of 37.5% of EDF Renewables Canada Inc.’s stake in the Cypress 1 & 2 Wind Projects. The projects, located southeast of Medicine Hat, Alberta in Cypress County comprise a total 247-megawatt (MW) capacity.
Desjardins now owns 37.5% of the Project, EDF Renewables Canada holds 37.5%, and the Blood Tribe, a First Nation located at Stand Off, Alberta owns the remaining 25% stake. The projects, developed, built, and operated by EDF Renewables Canada, support energy transition in the region using a responsible and sustainable approach to economic development. Construction started in 2020, creating 250 jobs at its peak, and became operational in 2022 and 2023.