The Quebec company Innergex and Hydro-Quebec announced Monday the conclusion of a first joint acquisition allowing them to enter the renewable energy market in New York State.
Thanks to this $ 393.4 million transaction, the two Quebec companies hold equal shares of the 60 MW portfolio of Curtis Palmer power plants.
The plants consist of two hydroelectric facilities, Curtis Mills (12 MW) and Palmer Falls (48 MW).
The five employees at the power plants will join the Innergex team after this acquisition, the first carried out within the framework of the Strategic Alliance between the private producer of renewable energy and the state-owned company.
“The first acquisition made within the framework of the Strategic Alliance with Hydro-Quebec, Curtis Palmer is proof of the excellent collaboration between our teams and of the full potential of the Strategic Alliance in Innergex’s growth strategy,” said indicated Michel Letellier, President and CEO of Innergex.
“By investing directly in hydroelectric production facilities in New York State, we are strengthening our important commercial ties with it and continuing our efforts to develop the place of renewable energies in North America,” said Pierre Despars, Vice-President – Corporate Strategies and Business Development at Hydro-Québec.
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