Innergex to buy Riverstone-backed wind farms in $335 mln deal
Innergex Renewable Energy Inc (TSX: INE) has agreed to acquire three wind projects in France from the Velocita Group, a portfolio investment of Riverstone Holdings, a U.S. private equity firm. The deal is valued at $335 million and reflects an equity purchase price of about $76.2 million. It will give Innergex a 69.55 percent interest in the assets, and its partner, Régime de rentes du Mouvement Desjardins, a 30.45 percent interest. The wind farms are in France's Bourgogne-Franche-Comté region and have an installed capacity of 119.5 megawatts. Innergex, a Longueuil, Québec renewable power producer, is backed by Caisse de dépôt et placement du Québec.
4 May 2017•4 mins read
