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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 SociÃ©tÃ© Environnement MinÃ©raux SARL and the consulting firm DRC SARL to develop a portfolio of wind power projects in France totaling over 100 MW.