LONGUEUIL, QC, Feb. 12 /CNW Telbec/ - Innergex Renewable Energy Inc.
(TSX: INE) ("Innergex" or the "Corporation") is pleased with the report
released on February 9, 2009 by the Bureau d'audiences publiques sur
l'environnement ("BAPE"). The examination and public hearing report recommends
the authorization of two Cartier Wind Energy projects, Gros Morne (211.5 MW)
and Montagne-Sèche (58.5 MW), with certain improvements.
The BAPE report notes that the Gros Morne and Montagne-Sèche wind farm
projects are likely to generate substantial economic spin-offs at the local
and regional level.
"We are satisfied with the report's conclusions and will closely evaluate
the improvements recommended by the BAPE. The social acceptability of our
projects within the host communities is a fundamental aspect of our company's
core values," said Michel Letellier, President and Chief Executive Officer of
The two phases of the Gros Morne wind farm, consisting of 141 turbines,
are expected to be in commercial operation in 2011 and 2012 respectively. The
Montagne-Sèche wind farm, consisting of 39 turbines, is expected to be in
commercial operation in 2011.
Innergex holds 50% of Cartier Wind Energy, which is responsible for the
management of the construction and the operation of the wind farms, 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
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.
For further information:
For further information: Mr. Jean Trudel, MBA, Vice President - Finance
and Investor Relations, Innergex Renewable Energy Inc, (450) 928-2550,
email@example.com; Media: Ms. Edith Ducharme, Director, Financial
Communications and Investor Relations, Innergex Renewable Energy Inc, (450)