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
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)
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