BRIEF-Innergex announces the acquisition of eight wind power projects in France and a private placement of $50 mln

Mon Mar 21, 2016 8:01am EDT
 
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March 21 (Reuters) - Innergex Renewable Energy Inc

* Exclusive agreement with french firm Société Environnement Minéraux Sarl, consulting firm Drc Sarl

* Expects to complete acquisition of project under construction during Q1 of 2017

* Innergex renewable energy inc says purchase price of eur 93 million (equivalent to c$137 m ) will be financed in part by a private placement of $50 million

* Innergex announces the acquisition of eight wind power projects in france and a private placement of $50 mln

* Acquisition of 7 operating wind power projects with an installed capacity of 87 mw

* Says purchase price for eight wind power projects will be approximately eur 93 mln (equivalent to c$137 m )

* Innergex expects to complete acquisition of seven operating projects by April 30, 2016

* Non-Recourse debt related to 8 projects, which will total eur 121 mln in 2017 (equivalent to c$178 mln ), will remain at acquired project level

* Expecting annualized revenues in order of c$35 million and an adjusted EBITDA in order of c$28 million for 131 mw portfolio

* Agreement with S.E.M,Drc Sarl to develop portfolio of wind power projects in France totalling over 100 mw Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)