Nutrinor-Gilbert Renewable Energies Acquires Valeco Energy Quebec

Saguenay, February 12, 2024 — Just eight months after its establishment, the Saguenay–Lac-Saint-Jean joint venture Nutrinor-Gilbert Renewable Energies is advancing to the next phase of its development with the acquisition of Valeco Energy Quebec from the German group Energie Baden-Württemberg (EnBW).

The transaction allows Nutrinor-Gilbert Renewable Energies to gain control of the Dune-du-Nord Wind Farm in the Îles-de-la-Madeleine, as well as a portfolio of projects at various stages of development. Operating since 2020, the Dune-du-Nord Wind Farm has two wind turbines with a total capacity of eight megawatts (MW). The energy produced is delivered to Hydro-Québec to supply electricity to the population, businesses, and to the Îles-de-la-Madeleine companies, thereby contributing to the reduction of greenhouse gas emissions from its thermal power plant.

Nutrinor-Gilbert Renewable Energies will have a team of five experienced individuals for the maintenance of the existing assets and the project developments. In addition to its project portfolio, Nutrinor-Gilbert Renewable Energies benefits from a contract signed with Hydro-Québec for the expansion of its wind farm by adding a production capacity of 16.8 MW.

The joint venture relies on a significant partner: the Eastern Energy Alliance. Made up of sixteen regional county municipalities (MRCs), from Montmagny to the Îles-de-la-Madeleine, as well as the Wolastoqiyik Wahsipekuk First Nation, the Alliance encompasses over 209 communities and territories and actively participates in the development, planning, and operation of energy projects within its territory.

Quotes

“This is an important acquisition that marks the rapid integration of our joint venture into the renewable energy market. We are thus actively involved in the energy transition through activities that contribute to a more responsible and sustainable socio-economic development in our communities.”

-Michael Norman, Chairman of the Board of Nutrinor-Gilbert Renewable Energies

“As a result of this transaction, Nutrinor-Gilbert Renewable Energies gains a portfolio of development projects that will ensure sustained growth in the coming years. We are emerging at a time when decarbonization efforts are creating numerous opportunities.”

-Jacques Gauthier, President of Nutrinor-Gilbert Renewable Energies

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About Nutrinor-Gilbert Renewable Energies

Founded in June 2023 by the Nutrinor cooperative and Gilbert Énergie company, the joint venture focuses on the development of renewable energy projects sector in the in the wind energy sector, among others.

For more information:
Mélanie Ménard
Communication Advisor
[email protected]
418 343-3636 ext. 2263