LONGUEUIL, QC, July 6, 2015 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") announces that its Upper Lillooet Hydro Project (ULHP) construction site in British Columbia has been impacted by a forest fire that swept through the region over the weekend.
On July 4, all personnel were safely evacuated from the ULHP construction site, which comprises the Boulder Creek and Upper Lillooet River hydroelectric projects.
The "Boulder Creek" fire was ignited by lightning on June 30 and quickly spread to over 12,000 hectares, sweeping through the area of the construction site on July 5. This is one of many forest fires currently active in British Columbia, as a result of unusually hot and dry weather conditions.
The evacuation order remains in effect for the time being, so it is not yet possible to determine if there are damages and how extensive they are. The projects are insured for this kind of natural disaster and the Corporation will determine a course of action once it is able to assess the situation.
The Corporation is cooperating proactively with the BC Wildfire Service, as well as the Squamish Lillooet Regional District. It continues to monitor the situation closely and will provide more information when it becomes available.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms and carries out its operations in Quebec, Ontario, British Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 33 operating facilities with an aggregate net installed capacity of 687 MW (gross 1,194 MW), including 26 hydroelectric operating facilities, six wind farms, and one solar photovoltaic farm; (ii) interests in five projects under development or under construction with an aggregate net installed capacity of 208 MW (gross 319 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 3,190 MW (gross 3,330 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P.
The Corporation's strategy for building shareholder value is to develop or acquire high-quality facilities that generate sustainable cash flows and provide an attractive risk-adjusted return on invested capital, and to distribute a stable dividend.
SOURCE Innergex Renewable Energy Inc.
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