Innergex Renewable Energy announces the completion of the previously disclosed acquisition of TransCanada’s 62% interest in five wind farms in the Gaspé peninsula in Quebec known as Baie-des-Sables, Carleton, GrosMorne, L’Anse-à-Valleau and Montagne Sèche (the “Cartier Wind Farms”), as well as its 50% interest in the operating entities of the Cartier Wind Farms, for a total consideration of approximately $620 million after adjustment for distributions received by TransCanada since July 1, 2018. Innergex already owned the remaining interests in both Cartier Wind Farms and Cartier Operating Entities.

“I am pleased to announce we have finalized the acquisition of Cartier Wind Farms and Cartier Operating Entities. We have always considered these assets as an integral part of our family, Baie-des-Sables being the first of many wind farms introduced to our portfolio of assets. By leveraging the expertise and knowledge of Cartier staff, we will continue to improve our wind operations and pursue our growth strategy,” said Michel Letellier, President and Chief Executive Officer of Innergex. “Our discussions with financial institutions to put in place a non-recourse long-term financing at the projects level look promising and could be above the $400 million that we first expected to obtain. We anticipate closing this financing in the coming months.”