Innergex closes buy of 324-MW French wind portfolio
Innergex wind park. Image by Innergex (www.innergex.com)
Canadian electricity producer Innergex Renewable Energy Inc (TSE:INE) announced on Tuesday it is now the sole owner of a 324.2-MW wind portfolio in France.
The company has wrapped up the acquisition of the 30.45% stake it did not previously own in the portfolio for a total of CAD 96.4 million (USD 70.6m/EUR 71.4m). The signing of the deal was first unveiled just a week ago.
Comprised of 16 wind farms located across several French departments, the portfolio is estimated to bring annual revenues of some EUR 75.8 million (USD 74.9m) in 2023. As previously reported, all wind parks have power purchase agreements (PPAs) in place.
With this new purchase, mainly funded by Innergex’s revolving credit facilities and available cash, the company's net installed capacity in France grows by 98.7 MW.