October 17 (Renewables Now) - Canada’s Innergex Renewable Energy Inc (TSE:INE) said on Wednesday it has entered an agreement with French wind farm developer and operator Vent d'Est SAS to jointly develop wind projects in France.
The partners will explore new opportunities mainly in the eastern parts of France, which they say offer favourable conditions for renewables development. Under the agreement, Innergex will contribute to the development of the projects and acquire 50% of them when certain milestones are achieved. When they reach the construction phase, the Canadian renewable power producer will be able to buy 100% of the schemes.
Vent d'Est is a family-owned business with experience in the evaluation, negotiation, instruction and monitoring of energy production projects.
“Vent d'Est and Innergex share common values and together will pursue the development of renewable energy projects in partnership with local communities," said Jean Trudel, chief investment and development officer of Innergex. He added that the agreement will speed up the company’s growth, with France being an important market for its business.