Innergex announces that the Carleton Wind Farm benefits from the ecoENERGY Program



    LONGUEUIL, QC, Feb. 4 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX:
INE) ("Innergex" or the "Corporation") announces that the Carleton wind farm
is certified by EcoLogo and benefits from the ecoENERGY Initiative of the
Canadian federal government to support renewable energy in Canada.
    The program provides a $10 per MWh incentive payment for the wind farm's
first ten years of operation. According to Michel Letellier, President and
Chief Executive Officer of Innergex, "The ecoENERGY incentive has a great and
positive impact as it contributes to the development of renewable energy
projects such as those initiated by Innergex. It supports an industry that
contributes to the protection of the environment while creating sustainable
jobs in Canada. We therefore invite the government to take position in favour
of maintaining this program for the years to come."
    The 73 wind turbines wind farm has a total installed capacity of 109.5 MW
and an estimated yearly energy output of over 340,000 MWh of energy per year.
Its expected annual revenues total 26 million dollars. Built on time and on
budget, the Carleton wind farm's official commercial operations start date is
November 22, 2008. The Carleton wind farm has a twenty-year power purchase
agreement ("PPA") with Hydro-Quebec Distribution in respect of all the energy
generated by the facility. By virtue of the ecoENERGY Program, the project
will receive approximately 8.5 million dollars over the next 10 years, after a
75% disbursement to Hydro-Québec Distribution, as per the PPA terms.
    The Carleton wind farm is located in the Town of Carleton-Sur-Mer and the
Regional County Municipality of Bonaventure, Québec. It is the third Cartier
Wind Energy project to be built following Hydro-Quebec Distribution's first
call for tenders for wind energy. Innergex holds 50% of Cartier Wind Energy,
responsible for the management of the construction and the operation of the
wind farm, and 38% of the Cartier projects, in undivided co-ownership.

    Innergex Renewable Energy Inc. is a leading developer, owner and operator
of run-of-river hydroelectric facilities and wind energy projects in North
America. The Corporation's management team has been involved in the renewable
power industry since 1990. The Corporation owns a portfolio of projects which
consists of: i) interests in three operating facilities with an aggregate net
installed capacity of 61 MW (gross 141 MW); ii) interests in eight projects
with an aggregate net installed capacity of 245 MW (gross 440 MW) for which
power purchase agreements with public utilities have been secured or which are
eligible under the British Columbia Hydro and Power Authority Standing Offer
Program; and iii) prospective projects (gross expected capacity of more than
1,700 MW). Innergex Renewable Energy Inc. also owns 16.1% of the Innergex
Power Income Fund, a publicly traded income fund listed on the Toronto Stock
Exchange under the symbol "IEF.UN", and acts as its manager under long-term
management agreements. Innergex Power Income Fund owns interests in 12
projects in operation, with a total net installed capacity of 210 MW (gross
340 MW).

    Forward-looking statements

    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 as of the date they were made. The
Corporation does not undertake to update forward-looking statements except in
accordance with applicable laws.
    %SEDAR: 00026108EF




For further information:

For further information: Mr. Jean Trudel, MBA, Vice President, Finance
and Investor Relations, Innergex Renewable Energy Inc, (450) 928-2550,
jtrudel@innergex.com; Media: Ms. Edith Ducharme, Director, Financial
Communications and Investor Relations, Innergex Renewable Energy Inc, (450)
928-2550, educharme@innergex.com


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