Innergex to sell Icelandic assets to Macquarie for $409 mln

Innergex Renewable Energy Inc (TSX: INE) has agreed to sell Magma Energy Sweden AB, holder of a 53.9 percent interest in Icelandic geothermal operator HS Orka hf, for $408.8 million. The buyer is a European fund managed by Macquarie Infrastructure and Real Assets, the infrastructure and real assets arm of Australia's Macquarie Group. The deal is expected to close in the second quarter. HS Orka owns two operating geothermal facilities totalling 174 megawatts. Based in Longueuil, Québec, Innergex is a developer, acquirer and operator of hydroelectric facilities, wind farms, solar farms and geothermal power generation plants.

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