Innergex Renewable Energy Inc. is preparing for an initial public offering of its common shares.
The company has filed a preliminary prospectus for the offering, which will be underwritten by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. The two will act as joint bookrunners for the offering. About Innergex Innergex Renewable Energy Inc. develops and operates renewable power generating facilities and is active in the Canadian renewable power industry with a focus on hydroelectric and wind projects.
Following the closing of the proposed initial public offering, Innergex Renewable Energy will own 16.1% and remain the Manager of the Innergex Power Income Fund, a publicly traded income fund listed on the Toronto Stock Exchange.
In addition, the Corporation will own a portfolio of projects which consists of one operating facility (8 MW), interests in nine development projects with power purchase agreements (gross expected capacity of 565 MW) under construction or to be constructed between 2008 and 2012 and 21 prospective projects (gross expected capacity of 1,638 MW).
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