LONGUEUIL, QC, July 7 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("the Corporation") announces the submission of eight wind farm development projects, in partnership with local organizations and municipalities. These new wind energy projects were submitted in response to a call for tenders issued by Hydro-Québec Distribution for the purchase of 250 MW resulting from community projects, and represent 24.6 MW in potential installed capacity each, with in-service dates beginning December 2013.
Municipalities or local organizations will hold interests of between 30% and 50% of the respective wind farm projects, which will be located in the following municipalities: Ste-Louise (MRC de l'Islet), Matane (MRC de Matane), TNO de Picard (MRC de Kamouraska), Ville de Gaspé (MRC de la Côte-de-Gaspé), Ville de Métis-sur-Mer (MRC de La Mitis), St-Séverin (MRC Robert-Cliche), St-Paul-de-la-Croix and St-Épiphane, and St-Antonin (MRC de Rivière-du-Loup).
"We are extremely pleased to be partnering with the local communities in response to this Hydro-Québec call for tenders. This provides us an opportunity to contribute to local economic development by participating in promising initiatives," asserted Michel Letellier, President and Chief Executive Officer of the Corporation.
Innergex, a Quebec pioneer in the field of wind energy, has ownership interests in three wind farms currently in operation. These facilities, located in L'Anse-à-Valleau, Baie-des-Sables and Carleton (in the Gaspé region), represent 121 MW of net installed capacity. "Two basic principles - respect and close collaboration with the host communities - are essential components in this type of project and are the foundation of our success," explained Letellier. Three additional Innergex wind farms - Gros Morne (Phases I and II) and Montagne-Sèche - are also under construction and, upon completion, will account for 103 MW of net installed capacity.
Hydro-Québec Distribution made the public bid opening today, and expects to announce the bids that have been selected by the end of 2010.
Innergex Renewable Energy Inc. is a leading developer, owner and operator of run-of-river hydroelectric facilities and wind energy projects in North America. 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 17 operating facilities with an aggregate net installed capacity of 326 MW; ii) interests in seven projects under development with an aggregate net installed capacity of 203 MW for which power purchase agreements have been secured; and iii) prospective projects of more than 1,900 MW (net).
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. The Corporation does not undertake to update forward-looking statements except in accordance with applicable laws.
SOURCE Innergex Renewable Energy Inc.
For further information: For further information: Media: Mr. Guy Dufort, Vice President - Public Affairs, Innergex Renewable Energy Inc., Tel: (418) 834-6705; Investors: Ms. Edith Ducharme, LL.L., Director - Financial Communications and Investor Relations, Innergex Renewable Energy Inc., Tel: (450) 928-2550, ext. 222, firstname.lastname@example.org; Site Web: www.innergex.com