Innergex acquires 138MW wind portfolio in US from Terna Energy

16 July 2020 (Last Updated August 18th, 2020 04:45)

Renewable power producer Innergex has acquired all Class B shares of six operating wind farms in Idaho, US.

Innergex acquires 138MW wind portfolio in US from Terna Energy
The wind portfolio acquired by Innergex uses 60 wind turbines across six sites. Credit: Matt Artz on Unsplash.

Renewable power producer Innergex has acquired all Class B shares of six operating wind farms in Idaho, US.

The wind farms across Elmore County have a total installed capacity of 138MW, with 23MW per site. Terna Energy carried out its “Mountain Air Acquisition” for $56.8m.

All the sites across Cold Springs, Desert Meadow, Hammett Hill, Mainline, Ryegrass, and Two Ponds were commissioned in December 2012. They are connected to a common substation.

Innergex president and CEO Michel Letellier said: “The Mountain Air Acquisition is expected to be immediately accretive to free cash flow per share. We are pleased to further expand our portfolio in the United States with fully contracted wind farms.

“Despite the current crisis, Innergex remains in an excellent position to pursue its growth, and we remain committed to identifying strategic acquisition opportunities on our own as well as through our strategic alliance with Hydro-Québec.”

Equipped with a total of 60 Siemens Gamesa wind turbines, the Mountain Air wind farms have the capacity to generate an estimated long-term average of 331GWh annually.

In a statement, an Innergex spokesperson said the wind farm portfolio is covered under a full scope service maintenance agreement. It also has power purchase agreements in place with Idaho Power Company for a remaining period of nearly 12.5 years.

In May this year, Innergex announced the acquisition of the Salvador solar photovoltaic (PV) farm in Chile. It also revealed an 11-year power purchase agreement covering annual generation of 54.6GWh.

These assets were acquired from Etrion Chile, Total Solar Latin America, and Solventus Salvador. Innergex paid $46.6m and $19.5m, respectively.