Innergex Power Acquiring Interests In Two Facilities

NAW Staff, Wednesday 07 November 2007 - 01:00:00

Innergex Power Income Fund has reached an agreement with Innergex II Income Fund to acquire its interests in two facilities - 38% interest in the 109.5 MW Baie-des-Sables wind farm and 38% interest in the 100.5 MW Anse-a-Valleau wind farm - for C$172.9 million. According to the company, this transaction is expected to increase the fund's total installed capacity by 61% to 210 MW.

The Baie-des-Sables wind farm is located near Matane, Quebec. The facility benefits from a long-term power purchase agreement (PPA) with a term of 20 years with Hydro-Quebec, expiring in 2026. The facility was commissioned in November 2006 and is expected to produce 298.3 GWh annually.

The Anse-a-Valleau wind farm is located in Gaspe, Quebec. The facility also benefits from a long-term PPA with a term of 20 years with Hydro-Quebec, beginning on the commercial in-service date. The facility is expected to be commissioned this month, and its annual forecasted long-term average production is 298 GWh.

Innergex Power Income Fund and Innergex II Income Fund are managed by Quebec-based Innergex Renewable Energy, which has been developing, constructing, acquiring and operating wind farms since 2000.



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