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On June 10, 2025, the Canada Infrastructure Bank (CIB) announced a $108.3 million loan to support the construction of the Mesgi’g Ugju’s’n 2 (MU2) wind project in Gespe’gewa’gi, Quebec. This 102 MW project is an extension of the original 150 MW Mesgi’g Ugju’s’n wind farm commissioned in 2016. The MU2 project is a 50-50 partnership between Innergex Renewable Energy Inc. and the Mi’gmawei Mawiomi Business Corporation (MMBC), representing the Mi’gmaq communities of Gesgapegiag, Gespeg, and Listuguj.
The project aims to enhance Indigenous economic participation in Canada's clean energy sector. Upon completion, the electricity generated will be sold under a 30-year "take-or-pay" power purchase agreement with Hydro-Québec. The project is expected to be fully operational in 2026.
Parties
Company
Innergex Renewable Energy Inc.
Company
Mi’gmawei Mawiomi Business Corporation
Deal Type
Financing/InvestmentIndustry
EnergyTransaction
$ 108,300,000Deal Status
ActiveClosing Date