Innergex Renewable Energy is pleased to announce that an agreement has been signed for the co-development of wind projects in France with Vent d'Est.
Vent d’Est is a family-owned business developing wind projects since 2005. Pioneer of participation and consultation with local communities in France, Vent d’Est brings together the key functions of evaluation, negotiation, instruction and monitoring of energy production projects.
Innergex and Vent d’Est will work together to seek new development opportunities on projects mainly in eastern France. The market conditions in this region favour the development of renewable energy projects.
According to the agreement, Innergex will contribute to the development of projects and acquire 50% when they have reached certain milestones. The agreement also provides for Innergex to acquire 100% of the projects when they reach the construction phase.
“France is an important market for Innergex and this agreement will allow us to accelerate our growth. Developing projects in France requires several years of hard work and having the experience of Vent d’Est coupled with our expertise should allow us to develop more projects simultaneously in the coming years. 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.
Source: Company Press Release