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Innergex Renewable Energy has announced that a final agreement has been signed with Velocita Energy Developments (France) Limited to purchase three wind projects in France with a total aggregate installed capacity of 119.5MW. As of today, 97.3MW out of 119.5MW (or 81%) have already reached mechanical completion and the remaining turbines are in the late stage of construction with full commissioning expected in phases until the end of the year.

Innergex will have a 69.55% interest in the wind farms and Desjardins Group Pension Plan will own the remaining 30.45%. The purchase price of the equity is approximately €51.4 million. Innergex expects to complete the acquisition of the three wind projects by the end of the second quarter of 2017, subject to customary closing conditions. The projects consist of 43 GE wind turbines (each with a gross capacity of 2.78MW) that will be operated by the wind turbine manufacturer under an 18-year operation and maintenance contract.