Innergex completes acquisition of Energía Llaima

Innergex Renewable Energy Inc. (Innergex) has become the sole owner of the Chilean renewable energy company Energía Llaima SpA (Energía Llaima) by acquiring the remaining 50% interest in Energía Llaima for an aggregate consideration of US$71.35 million.

Following the transaction, Innergex has now interests in and operates three hydro facilities in Chile with an installed capacity of 152 MW, a solar thermal facility with a capacity of 34 MW, as well as several projects in the development or prospective stages. It also manages operations at the Salvador solar farm, which was already wholly owned by Innergex.

Hydro-Québec, which owns 19.9% stakes in Energía Llaima, was issued 1,148,050 common shares by means of a private placement for a total consideration of CAD25.3 million (US$19.87 million) to maintain its ownership.