Innergex Renewable Energy Inc. announced the successful completion of its acquisition of the remaining 30.45% minority interest in its wind portfolio of 16 assets in France for a total consideration of CAN$96.4 million. Innergex now fully owns its assets in France.
“We are very pleased with the speed with which this transaction was completed,” said Michel Letellier, President and Chief Executive Officer of Innergex. “Strengthening our presence in France has always been part of Innergex’s development strategy. We have a strong team in place, and we will now focus on optimizing those assets to create more value.”
The 16 assets, on a consolidated basis, are expected to generate annual revenues of approximately €75.8 million (CAN$100.0 million) in 2023, while operating, general and administrative expenses are expected to reach €18.6 million (CAN$24.5 million) during the same period.
