Wind Power For 30 Years: Innergex Concludes Long-Term Power Supply Agreement With Hydro-Québec

Longueuil, Canada - Long-term power purchase agreements (PPAs) are becoming increasingly important worldwide as part of the energy transition.

Canadian hydropower, wind and solar farm operator Innergex Renewable Energy has now signed a 30-year power purchase agreement with Hydro-Québec for the purchase of wind power from the Lotbinière Ndakina wind energy project (100 MW).

Innergex's (50 percent) municipal partners are the Regional County Municipality of Lotbinière (RCM of Lotbinière, 45 percent) and the Abenaki Councils of Odanak (2.5 percent) and Wôlinak (2.5 percent).

The long-term power purchase agreement is structured as a take-or-pay contract that is linked to a predefined percentage of the consumer price index and is therefore intended to ensure financial stability and protection against inflation.

After commercial commissioning planned for the end of 2028, the wind farm is expected to generate enough electricity to cover the needs of around 20,000 households. The project is still subject to the conclusion of contracts with suppliers and the successful completion of approval procedures and regulatory requirements.

The Innergex Renewable Energy share price has fallen by 2.05 percent to EUR 5.244 in trading today (15:52, 16.04.2024, Stuttgart Stock Exchange).

Source: IWR Online, Apr 04 2024