Canada Secures Financing for 274 MW Madawaska Wind Farm

A breakthrough financial deal just cleared the way for one of Québec's largest onshore wind farms to break ground in the Bas-Saint-Laurent region.

EDF Renewables and Hydro-Québec have reached financial close on the Madawaska wind project, securing backing from a consortium of major banks including Canadian Imperial Bank of Commerce, National Bank of Canada, Desjardins Group, and KfW IPEX-Bank. After years of planning and approvals, construction can finally move forward on the 274-megawatt facility.

The partnership brings together complementary strengths. EDF Renewables, a global leader in wind and solar development, teamed up with Hydro-Québec, one of the world's largest hydropower producers, along with the Alliance de l'énergie de l'Est to make the ambitious project a reality.

The wind farm will feature 45 Vestas turbines scattered across the landscape: 20 units rated at 6.2 MW and 25 units rated at 6 MW. Once operational, these turbines will generate enough clean electricity to power more than 44,000 homes annually, displacing carbon emissions and helping Québec meet rising electricity demand sustainably.

Construction alone will create more than 300 jobs, bringing an immediate economic boost to the region. But the benefits extend far beyond the build phase.

The Ripple Effect

Over its operational lifetime, the Madawaska project will distribute approximately CAD $181 million to regional stakeholders and local communities. Small towns like Dégelis and Saint-Jean-de-la-Lande will receive more than $25 million combined, funding that can support schools, infrastructure, and community programs for decades to come.

For Hydro-Québec, this milestone represents critical progress toward an ambitious target: adding 10,000 MW of new wind capacity by 2035. The Madawaska project alone contributes nearly 3% of that goal, proving that large-scale renewable development can move from planning to reality when governments, utilities, and private developers align their efforts.

The financial backing from multiple major institutions signals strong confidence in Canada's clean energy future. While wind energy development has faced controversy and slowdowns elsewhere, Canada continues expanding its renewable portfolio with projects that deliver both environmental and economic wins.

Communities across Bas-Saint-Laurent can now look forward to cleaner air, stable energy supply, and economic opportunity powered by the wind.