November 1, 2013 – Innovente has announced the commercial operation of its first plant in Saint-Patrice-de-Beaurivage, Que. Delivery of electricity to Hydro-Quebec began according to the terms of the contract after the corporation successfully completed all compliance tests and trials, which allowed Innovente to officially reach the status of renewable energy producer, it said.

“This commercial operation marks the fulfillment of years of efforts aimed at bringing a green and economically viable solution for the production of electricity from organic residues,” said Richard Painchaud, Innovente president. “It also enables the corporation to start generating substantial revenue immediately. The Saint-Patrice plant is becoming Innovente’s showcase, a model that has already begun to multiply, with projects announced in Trois-Rivières and Matane.”

The power purchase agreement with Hydro-Quebec is for a period of 25 years, effective in September 2013, and provides for the production of 4.6MW of electricity at a price of 12 cents/kWh, indexed at 2.13%/year.