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Innergex closes deal for 2 wind projects in France

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Innergex closes deal for 2 wind projects in France

Innergex Renewable Energy Inc. closed its acquisition of a majority interest in two wind power projects, totaling 24 MW, in France from BayWa re for approximately C$20.96 million.

Innergex will own a 69.55% stake in the Nouvelle-Aquitaine-based projects, and the Desjardins Group Pension Plan will own the remaining 30.45%, according to a Dec. 22 company release.

The wind farms, which hold a 15-year power purchase agreement with EDF Group, are expected to generate annual revenues of about C$8.69 million and adjusted EBITDA of C$7.22 million in 2017, Innergex said on Dec. 13 when it announced the deal.