Innergex signs 20-year power deal for 150 MW wind project
Mesgi'g Ugju's'n will produce 515,000 MWh to power more than 30,000 Quebec households.
LONGUEUIL, Que. — Innergex Renewable Energy Inc. has signed a 20-year power purchase agreement with hydro Quebec for a 150 megawatt wind project in Quebec’s Gaspe Peninsula.
The project is a 50-50 split ownership venture between Innergex and three Mi’gmag communities in Quebec – Gesgapegiag, Gespeg and Listuguj. Innergex will manage construction and the operation of the wind farm.
The $365 million Mesgi’g Ugju’s’n wind project is located on public lands in the Avignon Regional County Municipality in Quebec. Construction is expected to start in late 2014, once all authorizations are received.
Commercial operation is expected to begin by the end of 2016.
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. In its first full year of operation, it is expected to generate revenues of $55 million and adjusted EBITDA of $45 million.
Founded in 1990, Innergex is an independent renewable power producer that develops, owns and operates run-of-river hydroelectric facilities, wind farms and solar photovoltaic farms and carries out its operations in Quebec, Ontario, BC and Idaho. Its assets consist of 32 operating facilities with an aggregate net installed capacity of 672 megawatts.