Innergex acquires 62% interest in five wind farms from TransCanada for C$620M
October 24, 2018
620.00 Million CAD
On October 24, 2018, Innergex Renewable Energy Inc. completed the acquisition of the 62% undivided co-ownership participation of TransCanada Corporation in five wind energy farms in Quebec ("Cartier Wind Farms"), as well as TransCanada's 50% interest in the operating entities of the Cartier Wind Farms, for approximately C$620 million. Innergex already owned the remaining interests in the Cartier Wind Farms and its operating entities. The transaction will increase Innergex’s net capacity by 366MW.
In connection with the acquisition, Innergex has obtained two short-term credit facilities of C$400 million and C$228 million to cover the purchase price and transaction costs in its entirety.
Innergex is a global renewable energy company that develops, acquires, owns and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms and geothermal power generation plants.
McCarthy Tétrault LLP advised Innergex with a team led by Hadrien Montagne and Richard O'Doherty that included Marc Dorion, Philippe Fortier, François Dupuis, Isabelle Nazon and Sunny Yang (Business), and Danielle Drolet and Danielle Gagnon (Real Property).