Innergex Renewable Energy signed final agreements with a German company, wpd europe GmbH, for the acquisition of a portfolio of 8 wind power projects located in France, that is, 7 operating projects with a combined installed capacity of 87 MW and another project currently under construction with an installed capacity of 44 MW, for a total of 131 MW.
Simultaneously, the corporation announced a private placement of $50 million 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. Furthermore, the transactions announced today lay the basis for the future development of Innergex in France, a highly attractive growth market."
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.