Innergex Renewable Energy has acquired a 87MW operating wind power projects portfolio in France from wpd Europe.
Under the deal, which was signed last month, Innergex agreed to pay €93m for the portfolio and one 44MW wind project currently under construction.
Following the project’s commercial commissioning, Innergex will pay to the seller an additional amount of €23m, subject to several adjustments.
Innergex funded a portion of the transaction with the proceeds of a C$50m ($38.8m) private placement of common shares.
The company has now completed the acquisition of seven operating wind farms in the north and central part of France. Their annual long-term average level of electricity production is anticipated to reach 169,400 MWh.
The electricity generated by the wind farms is being sold to EDF and SICAE Oise under two 15-year power purchase agreements.
The wind farms acquired include – 10MW Porcien, 10 MW Longueval, 8 MW Antoigné, 12 MW Vallotes, 10 MW Bois d’Anchat, 25 MW Beaumont, and 11.8 MW Cholletz.
Innergex develops, owns, and operates run-of-river hydroelectric plants, wind farms, and solar photovoltaic farms. It undertakes its operations in Quebec, Ontario, British Columbia, Idaho, US, and in France.
The company’s portfolio of assets currently feature interests in 42 operating facilities with an aggregate net installed capacity of 803MW , including 28 hydroelectric operating plants, 13 wind farms, and one solar photovoltaic farm. Innergex also has interests in several other developments.
Image: Innergex buys wind projects from wpd Europe. Photo: Courtesy of Znix/FreeDigitalPhotos.net.