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Innergex Sells Minority Stake in French Renewables Portfolio to Credit Agricole Assurance for €129.5 Million.

Canada’s Innergex Renewable Energy Inc (TSE:INE) has closed a minority stake sale in its renewables portfolio in France to insurer Credit Agricole Assurance for an investment of € 129.5 million (USD 136.5m). The French platform, which includes 324 MW of wind power and 9 MW/9 MWh of storage capacity, is estimated to have a value of € 715.2 million. Innergex will use the funds from the sale to reduce its revolving credit facilities and finance development activities over the next few years. The long-term partnership between the two companies will provide synergies and support ongoing development projects.

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