Innergex to buy 332 MW Chilean wind portfolio

Innergex Renewable Energy Inc. has entered into an agreement to acquire 100% of the ordinary shares of Aela Generación S.A. and Aela Energía Spa, a 332 MW portfolio of three newly-built operating wind assets in Chile, for a purchase price of US$686 million, including the assumption of US$386 million of existing debt, subject to customary closing adjustments.

Aela’s portfolio consists of the Sarco wind farm (170 MW), the Aurora wind farm (129 MW) and the Cuel wind farm (33 MW). Revenues from these facilities are anchored by two forms of power purchase agreements (PPAs) with 25 Chilean distribution companies, maturing at the end of 2036 and 2041.