Innergex Renewable Energy has acquired seven operating windpower projects with a total installed capacity of 87MW in France from German company wpd europe.
In March, Innergex agreed to acquire seven operating projects and another project currently under construction with an installed capacity of 44MW.
Innergex agreed to pay €93m for the seven operating windfarms and the project currently under construction.
Located in the north and centre of France, the seven windfarms are expected to generate 169,400MW hours of clean electricity per annum.
The electricity generated will be sold to Électricité de France and S.I.C.A.E Oise under power purchase agreements for an initial term of 15 years.
The operating windfarms include 10MW Porcien, 10MW Longueval, 8MW Antoigné, 12MW Vallotes, 10MW Bois d’Anchat, 25MW Beaumont and 11.8MW Cholletz.
Each windfarm has between four and 22 turbines, with a total of 52 Enercon turbines and ten Nordex turbines.
The acquisition is partly funded with the proceeds of a C$50m (€34.4m) private placement of common shares.
Subject to regulatory authorisations and other customary closing conditions, the acquisition of the project under construction is expected to be completed during the first quarter of 2017.
The acquisition of the eight windfarms will increase the company’s gross installed capacity from 1,232MW to 1,319MW, and gross capacity under development from 297MW to 341MW.
In February, Innergex acquired Walden North hydroelectric facility in British Columbia, Canada.
The 16MW Walden North facility will join Innergex’s portfolio of 28 hydroelectric operating facilities.
Image: The electricity generated at the windfarms will be sold under power purchase agreements. Photo: courtesy of koko-tewan / FreeDigitalPhotos.net.