Innergex receives approval from the Régie de l'énergie for the PPA of the Viger-Denonville wind farm

LONGUEUIL, QC, Nov. 22, 2011 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") is pleased to announce it has received approval from the Régie de l'énergie for the 20-year power purchase agreement ("PPA") awarded in December 2010 by Hydro Quebec in respect of the Viger-Denonville community wind farm project located in Quebec.

According to Mr. Michel Letellier, President and Chief Executive Officer of the Corporation, "this marks yet another milestone for the Viger-Denonville project, which we are very proud to be developing in partnership with the Rivière-du-Loup RCM. We are very grateful to the RCM for its continued commitment and support as both our partner and host community. Such a project underscores Innergex's stated mission of engaging in projects that serve the best interests of our host communities, our partners, and our investors."

Developed through a 50-50 joint venture with the Rivière-du-Loup RCM and located in the Quebec municipalities of Saint-Paul-de-la-Croix and Saint-Épiphane, the Viger-Denonville wind farm project will include 12 wind turbines with an installed capacity of 24.6 MW. Construction is expected to begin in Spring 2013 with a construction budget of $75 million. The wind farm is expected to begin commercial operation in December 2013 and to generate annual revenues of approximately $10 million.

Innergex Renewable Energy Inc. (TSX: INE) is a leading developer, owner, and operator of run-of-river hydroelectric facilities and wind energy projects in North America, and a developer of solar photovoltaic installations. Innergex's management team has been involved in the renewable power industry since 1990. Innergex owns a portfolio of projects which consists of: (i) interests in 23 operating facilities with an aggregate net installed capacity of 400.5 MW (gross 687.8 MW), including 20 hydroelectric operating facilities and three wind farms; (ii) interests in 12 projects under development or under construction with an aggregate net installed capacity of 324 MW (gross 566.3 MW), for which power purchase agreements ("PPA") have been secured; and (iii) prospective projects with an aggregate net capacity totaling more than 2,800 MW (gross 3,000 MW). Innergex Renewable Energy Inc is rated BBB- by S&P and BBB (low) by DBRS.

Forward-Looking Information: Investors should note that some statements in this press release are forward-looking and may not give full weight to all potential risks and uncertainties. Forward-looking statements are, by their nature, subject to risks and uncertainties, and actual results, actions or events could materially differ from those set forth in the forward-looking statements. All forward-looking statements are only valid at the date they were made. Innergex does not undertake to update forward-looking statements except in accordance with applicable laws.

SOURCE INNERGEX RENEWABLE ENERGY INC.

For further information:

Marie-Josée Privyk, CFA
Director - Investor Relations
Innergex Renewable Energy Inc.
Tel.: 450-928-2550, ext. 222
mjprivyk@innergex.com

www.innergex.com

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