Innergex's partner allocated 150 mw for a wind project
Friday, May 17, 2013LONGUEUIL, QC, May 10, 2013 /CNW Telbec/ - Innergex Renewable Energy Inc. (TSX: INE) ("Innergex" or the "Corporation") announces that its partner, the Mi'gmawei Mawiomi, the Assembly of Mi'gmaq communities of Quebec, has been allocated 150 MW for a wind energy project in the Gaspé Peninsula, in Quebec, Canada.
"This is a momentous event for the three Mi'gmaq communities, who see great opportunities for the future. We now have the resources to support our governments and make strategic investments. It is also important to know our neighbours will benefit from the project as well, because the majority of the revenues from the wind farm will be spent in the Gaspésie region", declares Chief Claude Jeannotte, Chairperson of the Mi'gmawei Mawiomi.
"We are happy to have been selected by the Mi'gmawei Mawiomi for the realization of this project, and we look forward to developing a mutually beneficial partnership based on common values and interests", declares Michel Letellier, President and Chief Executive Officer of Innergex.
"Our company's strong development track record stems in part from its
willingness and ability to develop successful long-term partnerships. We believe there is a shift right across Canada towards local communities and First Nations choosing to become agents of their own socio-economic development, and this must be reflected in how energy projects are developed", adds Mr. Letellier. "We are very pleased with the development model that the Quebec government has chosen, as we have prospective projects in collaboration with local municipalities that
we will be able to submit under the requests for proposals announced today", concludes Mr. Letellier.
Today, Quebec Premier Pauline Marois announced that the government is pursuing the development of the wind energy industry in Quebec with the allocation of 800 MW for new projects, including the 150 MW for a project by the Mi'gmawei Mawiomi, Innergex's partner, as well as 200 MW for Hydro-Québec Production, 300 MW by request for proposals for projects in the Gaspésie and Lower-Saint-Lawrence regions, and 150 MW by request for proposals for projects throughout Quebec. These requests for proposals will target projects initiated by local communities or cooperatives, in partnership with private developers.
About the Mi'gmawei Mawiomi
The Mi'gmawei Mawiomi (the Assembly) is a representative organization for three Mi'gmaq communities located in Gespe'gewa'gi: Gespeg, Gesgapegiag and Listuguj. The Assembly ensures, among other things, the Mi'gmaq Nation has access to its resources the purpose of which is to support the political and social objectives of the Mi'gmaq governments. The Assembly has established a secretariat, the Mi'gmawei Mawiomi Secretariat (MMS), to carry out its administrative functions that allow for MMS to pursue consultations and accommodations with any interest wanting to access the natural resources throughout Gespe'gewa'gi, its lands. The partnership with Innergex Renewable Energy Inc. is the first endeavour to partner with a company that will allow the Assembly to participate in the emerging wind power industry operating on its lands.
About Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is a leading Canadian independent renewable power producer. Active since 1990, the Company develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms and carries out its operations in Quebec, Ontario, British Columbia, and Idaho, USA. Its portfolio of assets currently consists of: (i) interests in 28 operating facilities with an aggregate net installed capacity of 577 MW (gross 1,031 MW), including 22 hydroelectric operating facilities, five wind farms, and one solar photovoltaic farm; (ii) interests in seven projects under development or under construction with an aggregate net installed capacity of 190 MW (gross 263 MW), for which power purchase agreements have been secured; and (iii) prospective projects with an aggregate net capacity totaling 2,900 MW (gross 3,125 MW). Innergex Renewable Energy Inc. is rated BBB- by S&P and BB (high) by DBRS (unsolicited rating).
SOURCE INNERGEX RENEWABLE ENERGY INC.