Innergex closes participation of the Desjardins Group Pension Plan in its portfolio of wind assets in France

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Innergex closes participation of the Desjardins Group Pension Plan in its portfolio of wind assets in France

Innergex Renewable Energy Inc. has announced the closing of the investment by the Desjardins Group Pension Plan in the 7 wind project portfolio acquired in France on April 15, 2016, and a project under construction to be acquired at a later date.

The wind farms included in the 7 wind project portfolio are the following: 

  1. Porcien with capacity of 10.0 MW and PPA expiry of 2024
  2. Longueval with capacity of 10.0 MW and PPA expiry of 2024
  3. Antoigné with capacity of 8.0 MW and PPA expiry of 2025
  4. Vallotes with capacity of 12.0 MW and PPA expiry of 2025
  5. Bois d‘Anchat with capacity of 10.0 MW and PPA expiry of 2029
  6. Beaumont with capacity of 25.0 MW and PPA expiry of 2029
  7. Cholletz with capacity of 11.8 MW and PPA expiry of 2030

Following this investment, the Innergex Renewable Energy and Desjardins detain respectively 69.55% and 30.45% of the limited partnership which holds these projects. The initial investment of Desjardins is $38.4 M and will total approximately $50 M once the project under construction is acquired.

The transaction strengthens the long business relationship between Innergex and the Desjardins Group Pension Plan. The structure in use also allows Innergex to maximize the return after tax of the wind asset portfolio in France.

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