Innergex Renewable Energy Inc. has completed the previously announced acquisition of seven operating wind power projects in France from German company wpd europe GmbH.
The seven wind farms are located in the north and center of France with a total installed capacity of 86.8 MW. Innergex says the annual long-term average level of electricity production is expected to reach 169,400 MWh. All of the electricity produced is being sold under fixed-price power purchase agreements (PPAs) with Électricité de France (six wind farms) and S.I.C.A.E Oise (1 wind farm) for an initial term of 15 years.
The seven wind farms include the following:
- Porcien – 10 MW
- Longueval – 10 MW
- Antoigné – 8 MW
- Vallotes – 12 MW
- Bois d‘Anchat – 10 MW
- Beaumont – 25 MW
- Cholletz – 11.8 MW
To finance part of the acquisition, three Desjardins Group-affiliated entities have collectively subscribed to a private placement of 3,906,250 common shares of Innergex at a price of $12.80 per share, for gross proceeds of C$50 million on the closing date.