• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Corporate News
  • Generation
  • Oil & Gas
  • Regulation
  • Renewable
    • Climate
    • Solar
    • Wind
  • Storage
  • Tech
  • T & D
Energy News Desk Logo

Energy News Desk

Energy News and Data

Innergex Acquires Portfolio of Idaho Wind Farms

July 16, 2020 by NA Windpower

Innergex Renewable Energy Inc., an independent renewable power producer, has acquired all the Class B shares of a portfolio of six operating wind farms in Elmore County, Idaho, for a purchase price of $56.8 million from Terna Energy SA. 

The six 23 MW wind farms, Cold Springs, Desert Meadow, Hammett Hill, Mainline, Ryegrass and Two Ponds, have a total installed capacity of 138 MW.

“The Mountain Air Acquisition is expected to be immediately accretive to free cash flow per share. We are pleased to further expand our portfolio in the U.S. with fully contracted wind farms,” says Michel Letellier, president and CEO of Innergex. 

“Despite the current crisis, Innergex remains in an excellent position to pursue its growth, and we remain committed to identifying strategic acquisition opportunities on our own as well as through our strategic alliance with Hydro-Québec,” he adds.

The wind farms were fully commissioned in December 2012. The Mountain Air Acquisition is expected to produce a gross estimated long-term average of 331 GWh per year and a $21.1 million projected adjusted EBITDA for 2021. The Class B shares should provide Innergex with additional cash immediately available for distribution representing 62.25% of the project free cash flow. 

The Mountain Air wind farms are equipped with a total of 60 Siemens Gamesa 2.3 – 101 model wind turbines that are all connected to a common substation. The wind turbines are currently under a full-scope service maintenance agreement, and all wind farms have power purchase agreements with Idaho Power Co., a power utility rated BBB by Standard & Poor’s for 100% of their capacity over a remaining period of approximately 12.5 years.

Original source: North American Wind Power

Filed Under: Renewable, Wind

Primary Sidebar

Join The Daily Charge

This week's top 5 stories in your inbox. No spam ever.

Trending

  • Orsted, PGE Partner on Baltic Sea Offshore Wind Projects
  • Texas Governor Receives TGE’s Wind Leadership Award
  • Offshore Wind Market for Jack-Up Interventions on the Rise
  • Masdar Closes on Hefty Portfolio of U.S. Clean Energy Projects
  • New Golden Spiral Wind Turbine Proves Concept in Wind Test
  • Maxeon Launches New Line of Bifacial Solar Panels
  • ROMEO Project Aims to Increase Lifetime of Offshore Substations, Foundations
  • AVANGRID Expands Wind Generation in 2019
  • Green Energy Advantages of Green Energy
  • Nordex Group Installs the First N149/5.X Turbine

Footer

Trending

  • Orsted, PGE Partner on Baltic Sea Offshore Wind Projects
  • Offshore Wind Market for Jack-Up Interventions on the Rise
  • Masdar Closes on Hefty Portfolio of U.S. Clean Energy Projects
  • New Golden Spiral Wind Turbine Proves Concept in Wind Test
  • Maxeon Launches New Line of Bifacial Solar Panels

Recent

  • Quick Tips To A Sustainable Future
  • Stem Provides Smart Energy Storage Solutions to Today’s Power
  • EIA's AEO2021 shows U.S. energy-related CO2 emissions rising after the mid-2030s
  • Homeowners associations still a barrier for some would-be solar customers
  • Commentary: With open standards, U.S. can build EV charging infrastructure faster

Search

Contact Us

Write For Us

  • Email
  • Facebook
  • Twitter

Copyright © 2022 · EnergyNewsDesk.com