Innergex Renewable Energy Inc. (Innergex) has entered into an agreement to acquire the 60 MW Sault Ste. Marie solar portfolio located in northwestern Ontario, Canada, from Fengate Asset Management for a purchase price of CAN$50.2 million, along with the assumption of CAN$169.5 million of existing debt.
“This is our first acquisition in Canada since 2018, and we are excited to add this collection of high-performing fully contracted solar assets to our portfolio for additional and reliable Canadian dollar cash flows,” said Michel Letellier, President and Chief Executive Officer of Innergex. “The portfolio adds to our geographical diversification and improves our asset mix by adding 60 MW of solar capacity to our existing fleet.”
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