Innergex enters deal to acquire additional 30.45% stake in 324.2 MW French wind portfolio

Innergex Renewable Energy Inc has entered into an agreement to acquire the remaining 30.45% minority interest in a wind portfolio consisting of 16 assets in France for a total of CAD96.4 million (US$70.38 million). 

The wind projects are installed across several French departments and have been in operation since 2010 and 2011. The operation of the wind farms is expected to bring annual revenue of about EUR75.8 million (US$72.94 million) in 2023. 

The transaction will be financed mainly from Innergex's revolving credit facilities, the cash held in the portfolio's special purpose vehicles, and through the potential partial monetization of the Euro/CAD foreign exchange forward contracts outstanding.