Canadian-based Innergex Renewable Energy recently announce that final agreements have been signed with a German company, wpd europe GmbH, for the acquisition of a portfolio of eight wind power projects located in France.
The agreement includes seven operating projects with a combined installed capacity of 87 MW, and another project currently under construction with an installed capacity of 44 MW. The aggregated installed capacity of all eight farms is 131 MW and the average annual power generation is expected to reach 270,000 MWh when the final wind farm will be commissioned in 2017.
The purchase price for the wind projects will be approximately €93 M (equivalent to C$137 M), subject to certain adjustments. Simultaneously, Innergex announced a private placement of $50 M with three Desjardins Group affiliated entities.
“Establishing a foreign foothold is the cornerstone for the next growth stage at Innergex,” explains Michel Letellier, President and CEO. “This acquisition represents not only the outcome of a long process during which we laid the foundations for a new phase in the evolution of the corporation, but also the achievement of an ambitious objective — our desire to export our expertise and know-how to Europe.”
As part of this new growth stage, Innergex has also reached an exclusive agreement with the French firm Société Environnement Minéraux SARL and the consulting firm DRC SARL to develop a portfolio of wind power projects in France totaling over 100 MW.
For more information, read the full release here.
Innergex Renewable Energy
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