Last C$10.14 CAD
Change Today +0.20 / 2.01%
Volume 138.2K
As of 4:00 PM 10/20/14 All times are local (Market data is delayed by at least 15 minutes).

innergex renewable energy (INE) Snapshot

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12/20/13 - C$11.43
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11/1/13 - C$9.00
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innergex renewable energy (INE) Details

Innergex Renewable Energy Inc. operates as an independent renewable power producing company in North America. It develops, owns, and operates run-of-river hydroelectric facilities, wind energy farms, and solar photovoltaic farms. The company operates in four segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, and Site Development. It holds interests in 25 operating hydroelectric facilities with an aggregate net installed capacity of 402.4 megawatts (MW); 6 wind farms with an aggregate net installed capacity of 236.3 MW; and 1 solar farm with a capacity of 33.2 MW. The company has operations in Quebec, Ontario, and British Columbia, Canada, as well as in Idaho, the United States. Innergex Renewable Energy Inc. was founded in 1990 and is headquartered in Longueuil, Canada.

171 Employees
Last Reported Date: 02/25/14
Founded in 1990

innergex renewable energy (INE) Top Compensated Officers

Chief Executive Officer, President, Non-Indep...
Total Annual Compensation: C$415.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: C$239.0K
Senior Vice President of Operations & Mainten...
Total Annual Compensation: C$210.0K
Senior Vice President of Hydroelectric Develo...
Total Annual Compensation: C$190.0K
Senior Vice President of Western Region
Total Annual Compensation: C$190.0K
Compensation as of Fiscal Year 2013.

innergex renewable energy (INE) Key Developments

Innergex Announces MU Wind Project Obtains Government Decree

Innergex Renewable Energy Inc. announced that the Mesgi'g Ugju's'n (MU) Wind Farm, L.P. has obtained the government decree from the Quebec government for a 150 MW wind project located in the Gaspé Peninsula, in Quebec. This entity is controlled 50-50 by the three Mi'gmaq communities of Quebec -- Gesgapegiag, Gespeg and Listuguj and by Innergex, which is also responsible for the management of the construction and the operation of the wind farm. Obtainment of the decree marks the conclusion of the project's environmental approval process and gives the green light for construction to begin. The MU wind project is located on public lands in the Avignon Regional County Municipality in Quebec. The partners expect to begin pre-construction activities, such as wood clearing, in late 2014 and to begin construction in 2015. They further expect to begin commercial operation of the wind farm at the end of 2016. The cost of the project is currently estimated at approximately $365.0 million and will be financed in a proportion of at least 70% with non-recourse, fixed-rate project-level debt. To this end, the partners have completed a hedging program to fix the base interest rate through the use of derivative financial instruments, until closing of the project-level financing. The wind farm is expected to have a long-term average annual production of approximately 515,000 MWh, enough to power more than 30,000 Quebec households each year. All of the electricity the facility will produce is covered by a 20-year fixed-price power purchase agreement with Hydro-Québec, which provides for an annual adjustment to the selling price based on a portion of the Consumer Price Index. In its first full year of operation, the MU wind farm is expected to generate revenues and Adjusted EBITDA of approximately $55.0 million and $45.0 million respectively.

Innergex Renewable Energy Inc. Closes Tretheway Creek Hydroelectric Project Financing

Innergex Renewable Energy Inc. has closed a $92.9 million non-recourse construction and term project financing for the Tretheway Creek run-of-river hydroelectric project located in British Columbia, Canada. The $92.9 million construction loan will carry a fixed interest rate of 4.99%; upon the start of the project's commercial operation, it will convert into a 40-year term loan and the principal will begin to be amortized over a 35-year period, starting in the sixth year. The financing has been fully underwritten by National Bank Financial Inc. and Sun Life Assurance Company of Canada, with National Bank of Canada and Sun Life Assurance Company of Canada as lenders. National Bank Financial Inc. is acting as agent for the financing. Proceeds of the loan will be used to pay for the project's construction costs, as well as a loss of $8.4 million realized upon settlement of the bond forward contracts used to fix the interest rate on the loan prior to closing and therefore protect the project's expected returns. In addition, the project has obtained a $2.3 million letter of credit to finance the debt service reserve account for this project.

Innergex Renewable Energy Inc. Presents at CIBC 13th Annual Eastern Institutional Investor Conference, Sep-18-2014 03:20 PM

Innergex Renewable Energy Inc. Presents at CIBC 13th Annual Eastern Institutional Investor Conference, Sep-18-2014 03:20 PM. Venue: Le Centre Sheraton Montreal Hotel, 1201 Rene-Levesque Blvd, Montreal, Quebec, Canada. Speakers: Michel Letellier, Chief Executive Officer, President, Non-Independent Director and Trustee of Innergex Power Trust.


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