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Innergex completes acquisition of Quebec’s 40.6MW Magpie facility


July 27, 2013
By Anthony Capkun

July 27, 2013 – Innergex Renewable Energy Inc. says it has completed the acquisition of the Magpie run-of-river hydroelectric facility located in Quebec from Hydromega Group of Companies.

“We are very pleased with the acquisition of Magpie, which further strengthens our presence in hydro with a new, long-term facility, and further diversifies our hydro operations,” said Michel Letellier, Innergex’s president and CEO. “We look forward to developing our relationship with a new partner, the Minganie Regional County Municipality.

Magpie is a 40.6MW facility located in Minganie in Northeastern Quebec. It began commercial operations in 2007 and all of the electricity it produces is sold to Hydro-Quebec under a 25-year, fixed-price power purchase agreement. Magpie has an average annual production of about 185,000 MWh, says Innergex.