Innergex Completes Latest Wind Acquisition

Posted by Betsy Lillian on February 21, 2017 No Comments
Categories : Projects & Contracts

Canada-headquartered Innergex Renewable Energy Inc. has completed its acquisition of the 44 MW Yonne wind farm, located in northern France.

The Yonne wind facility was under construction when Innergex announced its planned acquisition of eight French wind projects in March 2016. Its commissioning activities began in the fourth quarter of 2016 and were completed at the end of last January.

The total purchase price amounts to EUR 35.2 million, subject to certain adjustments, and includes EUR 3.8 million of working capital.

Innergex owns a 69.55% interest in the wind farm, and Desjardins Group Pension Plan owns the remaining 30.45%.

In its first full year of operation, the Yonne wind farm’s average annual production is estimated to reach 100,400 MWh – enough to power about 21,000 French households. All the electricity it produces will be sold under a power purchase agreement (PPA) for an initial term of 15 years with √Člectricit√© de France.

Innergex develops, owns and operates hydroelectric facilities, wind farms and solar photovoltaic farms. The company carries out its operations in Quebec, Ontario, British Columbia, Idaho and France.

Its portfolio of assets currently consists of 47 operating facilities with an aggregate net installed capacity of 939 MW, including 29 hydroelectric facilities, 17 wind farms and one solar farm; interests in two projects under construction with an aggregate net installed capacity of 71 MW (for which PPAs have been secured); and prospective projects with an aggregate net capacity totaling 3,560 MW.

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