LONGUEUIL, QC, June 15 /CNW Telbec/ - Innergex Renewable Energy Inc.
(TSX: INE) ("Innergex" or the "Corporation") is pleased that the Quebec
government has adopted the decree authorizing the construction of three
Cartier Wind Energy wind farms, namely the Montagne-Sèche project (58.5 MW)
and both phases of the Gros-Morne project (211.5 MW). The Quebec government
announced its support of the projects today, emphasizing the important
contribution of these projects to local economic development.
As stated by Mr. Michel Letellier, President and Chief Executive Officer
of the Corporation, "Developing partnerships with local communities is a
priority in all our projects. We continuously strive to maximize local
economic and social benefits while minimizing environmental impact."
With construction set to begin in 2010, commercial operation is expected
to begin in November 2011 for Montagne-Sèche as well as for the first phase of
Gros-Morne. The second phase of Gros-Morne has an expected commercial
operation start date in November 2012.
The Montagne-Sèche wind farm, consisting of 39 turbines, with a total
installed capacity of 58.5 MW, will provide power for the equivalent of 11,000
households. Once its two phases are completed, the Gros-Morne wind farm will
include 141 turbines, with a total installed capacity of 211.5 MW, providing
power for the equivalent of 40,000 households.
Innergex holds 38% of the Cartier projects, in undivided co-ownership and
50% of Cartier Wind Energy, which is responsible for managing the construction
and the operation of the wind farms.
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 60.9 MW (gross 140.5 MW); ii) interests in two projects
under construction and five projects under development with an aggregate net
installed capacity of 197.5 MW (gross 392.3 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 of more than 1,600 MW (gross capacity of more than
1,800 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
For further information:
For further information: Ms. Edith Ducharme, LL.L., Director, Financial
Communications and Investor Relations, Innergex Renewable Energy Inc., (450)
928-2550, ext. 222, firstname.lastname@example.org; Mr. Jean Trudel, MBA, Vice
President, Finance and Investor Relations, Innergex Renewable Energy Inc.,
(450) 928-2550, ext. 252, email@example.com; www.innergex.com