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July 16, 2020updated 19 Nov 2021 9:55am

Innergex acquires 138MW wind portfolio in US from Terna Energy

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

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

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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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.

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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