Innergex acquires 119.5 MW of wind farms in France

Innergex Renewable Energy has announced it has completed the previously announced acquisition of three wind projects in France with a total aggregate installed capacity of 119.5 MW.

The buyer is Velocita Energy Developments (France) Limited, an affiliate of Riverstone Holdings LLC.

Innergex now owns a 69.55% interest in the wind farms and Desjardins Group Pension Plan owns the remaining 30.45%.

The three wind farms are the 36.1 MW Rougemont-1, 44.5 MW Rougemont-2 and 38.9 MW Vaite, that are expected to be fully commissioned in phases until the end of 2017. The wind farms are located in France's Bourgogne-Franche-Comte region. EDF has signed power purchase agreements (PPAs) with an initial term of 15 years for the three projects.

Innergex president and chief executive Michel Letellier said:

"France is an exciting market as it has adopted vigorous climate change targets and has a potential to double its onshore wind capacity by 2023."