Innergex Renewable Energy Inc. (TSX: INE) is pleased to announce the acquisition of a photovoltaic solar prospective project of approximately 260 MW_DC located in Brown County, OH, United States from Open Road Renewables, LLC and MAP Renewable Energy, LLC, the developers of the project.

“The acquisition of this prospective project increases Innergex’s footprint in the US Midwest. The renewable energy market in this area has many prospective development and long-term contracts possibilities with a diverse list of potential clients,” said Michel Letellier, President and Chief Executive Officer of Innergex. “All major development milestones are completed, and we are optimistic signing a solid off-taker given Innergex’s strong reputation in bringing projects to execution.”

The Hillcrest project is one of the first utility scale solar projects to complete the Ohio Power Siting Board (OPSB) permitting process successfully and was awarded the necessary certificate of Environmental Compatibility and Public Need to Construct an Electric Generation Facility. Interconnection service agreements are in place with PJM to interconnect to the Duke Energy owned Hillcrest substation, that would allow a commercial operation date between 2020 and 2021. Innergex has begun discussions to sell the power produced by the facility through a power purchase agreement. 

About Innergex Renewable Energy Inc.

The Corporation is an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and geothermal power generation plants. As a global corporation, Innergex conducts operations in Canada, the United States, France, Chile and Iceland. Innergex manages a large portfolio of assets currently consisting of interests in 68 operating facilities with an aggregate net installed capacity of 1,725 MW (gross 3,072 MW), including 37 hydroelectric facilities, 25 wind farms, four solar farms and two geothermal facilities. Innergex also holds interests in five projects under development with a net installed capacity of 719 MW (gross 800 MW), two of which are currently under construction and prospective projects at different stages of development with an aggregate net capacity totaling 8,382 MW (gross 9,246 MW). Respecting the environment and balancing the best interests of the host communities, its partners, and its investors are at the heart of the Corporation’s development. Its strategy for building shareholder value is to generate sustainable cash flows, provide an attractive risk-adjusted return on invested capital and to distribute a stable dividend. Innergex Renewable Energy Inc. is rated BBB- by S&P.