Innergex buys 60 MW solar PV portfolio in Ontario
Fengate Asset Management has agreed to sell the 60 MW Sault Ste. Marie solar portfolio in northwestern Ontario, Canada, to Innergex Renewable Energy Inc. for CAD50.2 million (US$37.6 million), plus the assumption of CAD169.5 million (US$126.8 million of outstanding debt.
The Sault Ste. Marie 1, 2, and 3 facilities (SSM1, SSM2, and SSM3, respectively) were fully commissioned in 2010 and 2011 and have had a good operating record since then. The Independent Electricity System Operator contracts all three plants for long-term electricity purchases. The portfolio has a remaining nine-year average contract life.
The transaction is expected to close in Q1 2023 after Canadian regulatory clearances, key third party consents, and other closing conditions.
Country updates
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January 18, 2023
Capital Power signs 15-year for 75 MW Clydesdale Solar project in Alberta
Capital Power has entered into a 15-year power purchase agreement with Shaw Communications Inc. for the purchase of 30 MW of the 75 MW Clydesdale Solar photovoltaic project located on privat...
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January 11, 2023
Nordex to supply turbines for 245 MW of Canadian & German wind projects
Nordex SE has signed turbine supply orders for a total capacity of 245 MW for several wind projects in Canada and Germany.
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December 27, 2022
Neoen starts construction of 93 MWp Fox Coulée solar project in Alberta
Neoen has started the construction of the 93 MWp Fox Coulée solar photovoltaic facility located at Starland County in Alberta, Canada. The construction contract was awarded to Goldbeck Sol...
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December 19, 2022
Crescent Point acquires USD272.8 million assets in Canada
Crescent Point has entered into a purchase and sale agreement with Paramount Resources Ltd. to buy Kaybob Duvernay assets for CAD375 million (US$272.8 million) in cash.
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December 01, 2022
First Hydrogen to develop green hydrogen ecosystem in Quebec, plans 50 MW production capacity
First Hydrogen Corporation has selected Shawinigan, Quebec, Canada as the location for its first green hydrogen ecosystem. Using modern electrolysis technology, the company expects to develop up to 50...
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