Saint-Paul-de-Montminy (News release) -- The Eastern Energy Alliance, Kruger Energy, and Potentia Renewables are pleased to announce the $521-M financial closing of the Saint-Paul-de-Montminy Wind Farm Project. The funding, combined with a government order authorizing the project that was secured last winter, will enable the project to move forward.

The Saint-Paul-de-Montminy Wind Farm Project will comprise 28 wind turbines with a total installed capacity of 196 MW, to be distributed over the municipalities of Saint-Paul-de-Montminy and Sainte-Apolline-de-Patton. Both municipalities, which will be hosting the wind farm project, will receive more than $20 M in fixed payments over the project's life, allocated proportionally based on the number of MWinstalled in each municipality.

The wind farm is slated to be commissioned in December 2027. In addition to supporting Québec's energy transition, the Saint-Paul-de-Montminy Wind Farm Project will generate considerable benefits for Eastern Energy Alliance community members: 15 RCMs in Eastern Québec, the Magdalen Islands Maritime Community, and the Wolastoqiyik Wahsipekuk First Nation.

Funding for the project located in the Montmagny RCM was secured through a syndicate of international lenders led by the Desjardins Movement acting as the Exclusive Financial Advisor, Administrative Agent, Mandated Lead Arranger, and Green Loan Coordinator, as well as KfW-IPEX Bank as the Co-Lead Arranger.

Construction began gradually over the past months and will ramp up so that electricity can be supplied to Hydro-Québec by December 2027. The current construction phase will generate more than 250 jobs. Project partners have committed to collaborating with local companies and suppliers, to ensure sustainable development that will benefit the community.

"The financial closing of the Saint-Paul-de-Montminy Wind Farm Project today is a major milestone. I am very grateful to our financial partners. It is very encouraging to see a project like this move forward, as it clearly delivers environmental, social, and economic benefits tothe host communities."

--Michel Lagacé, President, Eastern Energy Alliance

"This key milestone is the culmination of close collaboration with our partners. We are proud to implement a strong project that is deeply rooted in its environment and that will make a tangible contribution to energy transition while delivering significant positive benefits for the host communities."

--Jean Roy, Senior Vice President and Chief Operating Officer, Kruger Energy L.P.

"The financial closing of the Saint-Paul-de-Montminy Wind Farm Project is a testament to the strength of our partnership with the Eastern Energy Alliance and Kruger Energy. Together, we supply more than 196 MW of renewable energy; generate lasting benefits for the communities of Eastern Québec; and advance Québec's energy transition. Potentia is proud to build a clean and inclusive energy future alongside our host communities and the Wolastoqiyik Wahsipekuk First Nation."

--Ben Greenhouse, Chief Executive Officer, Potentia

"Funding of the Saint-Paul-de-Montminy Wind Farm Project marks another important milestone in the rollout of our renewable energy platform in Québec. This project closely aligns with our belief that wind energy will play a pivotal role in the evolution of a reliable, diversified, and resilient power grid. We are pleased to continue developing, together with our partners, infrastructure that is deeply rooted in its environment and that will create long-term value."

-Pierre-Olivier Perras, Managing Partner, Power Sustainable Energy Infrastructure

About the Eastern Energy Alliance

Bringing together 209 communities and territories, from the Montmagny RCM to the Magdalen Islands, as well as the Wolastoqiyik Wahsipekuk First Nation, the Eastern Energy Alliance ensures the participation of Eastern Quebec communities in renewable electricity generation projects on their territories.

The Alliance is part of the community's desire to take charge of its own affairs and increase its participation in the energy development of Eastern Québec and thus gives the local community the means to achieve its ambitions, in addition to promoting better planning of land use and its energy generation and transmission infrastructure. It is this same vision that has enabled Eastern Québec to stand out nationally as a leader in innovation, development, and the utilization of the collective wealth that renewable energy represents. The Alliance is currently a partner in four operating wind farms totalling 326.9 MW, and seven wind farms under development with electricity supply contracts totalling 1,425.7 MW.

About Kruger Energy

Kruger Energy, a business unit of Kruger Inc., specializes in the development and management of green and renewable energy power plants. Kruger Energy manages and operates 47 production sites, ranging from hydroelectric, wind, solar, and biomass cogeneration plants, with a total installed capacity of 650 MW. For more information, visit krugerenergy.com

About Potentia Renewables Inc.

Potentia Renewables Inc. is a 100% Canadian-owned developer, operator, and asset manager of renewable energy and storage assets. Potentia is wholly owned by Power Sustainable Capital Inc., an affiliate of Power Corporation of Canada, and manages over 1.5 GW of operating projects across Canada and the U.S., with a 2-GW development pipeline driving future growth. With a proven track record of executing large-scale projects and a commitment to excellence, sustainability, and Indigenous partnerships, Potentia is shaping the future of clean energy for generations to come. For more information, visit www.potentiarenewables.com

About Power Sustainable

Power Sustainable is a sustainability-focused alternative asset manager which finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm allocates capital across energy, food, mobility, connectivity, and the built environment, investing selectively along their value chains through equity and credit strategies. Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company focused on financial services in North America, Europe, and Asia. For more information, visit Power Sustainable's LinkedIn page or website.

Details on the project, and the nature and the timeline of the work are available at https://projeteolienstpaul.com