Innergex Renewable Energy and Alterra Power Corp have announced that they have entered into an arrangement agreement pursuant to which Innergex will acquire all of the issued and outstanding common shares of Alterra for an aggregate consideration of US$ 1.1 billion, including the assumption of Alterra’s debt.
Alterra will complement Innergex’s current operating, under construction and prospective projects, resulting in:
- Innergex’s overall net power generation capacity will be of 1,606MW, up over 40 %, pro forma the transaction, including assets under construction.
- Addition of three advanced-stage prospective projects with capacity of net 686 MW
- A number of other prospective U.S. renewable electricity production tax credit (PTC) qualified projects totalling approximately 490 MW
- Extensive pipeline of prospective projects in preliminary stages or in progress estimated at a net capacity of 4,350 MW to be added to Innergex’s pipeline of net capacity of approximately net 3,560 MW