Innergex Renewable Energy on the Toronto Stock Exchange

Common shares of Innergex Renewable Energy Inc. are now listed on the Toronto Stock Exchange under the ticker INE. 

The company completed a public offering of 10,455,000 common shares at a price of $11.00 per common share for total gross proceeds of more than $115 million.  

 

Innergex Renewable Energy Inc. is a renewable energy producer that owns a portfolio of hydroelectric facilities and wind farms projects. The company 

presently owns more than 2,200 megawatts (MW) in hydroelectric or wind energy projects in Canada, including: 

 

• An 8-MW operating hydroelectric facility selling power to Ontario Power Authority under a 20-year long-term power purchase agreement (“PPA”); 

 

• Interests in 5 hydroelectric projects and 4 wind energy projects for a total gross capacity of 565 MW. These projects will sell the power produced to Ontario Power Authority, Hydro-Quebec and BC Hydro for 20 to 30 

years pursuant to long-term PPAs. Three of these projects, representing a total gross capacity of 182.4 MW, are presently under construction and are expected to be commissioned in 2008 and 2009, according to the company.

 

• A portfolio of 21 prospective projects representing an expected capacity of 1638 MW. 

 

The company also owns 16.1% of Innergex Power Income Fund (TSX: IEF.UN) trust units. This Fund owns interests in 12 renewable energy projects of a total installed capacity of 339.9 MW.  

 

 

With the closing of the offering and the concurrent re-investment,23,500,000 common shares will be outstanding. 

 

The Corporation’s final prospectus is now available on the SEDAR website.