Innergex Renewable Energy Inc. received approval from the Toronto Stock Exchange to purchase for cancellation up to 2 million common shares.

The shares covered by this normal course issuer bid is approximately 1.5% of the company's 133,559,963 issued and outstanding common shares, according to a May 21 news release.

The bid will commence May 24 and will terminate May 23, 2020.

The company purchased for cancellation 753,294 common shares at a weighted average price of C$13.63 per share under a preceding normal course issuer bid, which commenced Aug. 17, 2017, and expired Aug. 16, 2018.