On October 8, 2004, Mount Miller Wind Energy Limited Partnership and the Manufacturers Life Insurance Co., which acted as agent and lender, closed the $40 million limited-recourse construction and term financing for the development and construction of a 54 MW wind power project located near the town of Murdochville in the Gaspé region of Quebec. Mount Miller Construction Services Inc., an entity comprised of 3ci Inc. and Northland Power Inc., will provide construction management services to the project and Hydro-Québec is the purchaser of power under a long-term power purchase agreement. The project is being built on land leased from the Government of Quebec.

To secure its obligations under the provided financing, Mount Miller Wind Energy issued debentures for a principal amount of $80 million in favour of the Manufacturers Life Insurance Co.

The wind project’s main economic interest is held by Northland Power Income Fund, which will partially finance the construction of the project with a $65 million convertible debenture offering of unsecured subordinated convertible debentures it closed pursuant to a prospectus dated August 18, 2004.

3ci Inc. and Mount Miller Construction Services were represented by Davies Ward Phillips & Vineberg LLP with a team that included Pierre-André Themens, Sébastien Thériault and David Lallouz.