Connection

popular articles

Philippines recover 96% of fuel oil after tanker sinks
France grants two exploration permits for natural hydrogen in Nouvelle-Aquitaine
Morocco modernizes its gas sector with a new law and a public operator
Agreement with ib vogt for a 50 MWp solar park in Bangladesh
China and the Future of Coal: A Plateau at 8.77 Billion Tonnes by 2027

Mountain Air fully acquired by Innergex

Mountain Air, the wind power portfolio in Idaho, U.S.A. becomes wholly-owned by Innergex Renewable Energy.
  • [favorite_button]

Please share:

Mountain Air, the wind power portfolio in Idaho, U.S.A. becomes wholly-owned by Innergex Renewable Energy.

An acquisition finalized

Mountain Air, in fact, is the subject of the purchase of the remaining 37.75% of the outstanding shares in its portfolio. These shares were not previously owned by Innergex. The total financial consideration represents $47.5 million or C$64.4 million.

Michel Letellier, President and Chief Executive Officer of Innergex, said:

“We are pleased to now have the Mountain Air wind portfolio as a wholly-owned entity. This transaction not only represents a natural continuation of the path we took when we first acquired an interest in the Mountain Air portfolio in 2020, but also an opportunity to generate additional accretive cash flows while increasing Innergex’s contracted wind profile in the U.S.”

Mountain Air’s wind portfolio includes six 23MW wind farms. The six parks are: Cold Springs, Desert Meadow, Hammett Hill, Mainline, Ryegrass and Two Ponds.

These wind assets, on a consolidated basis, are expected to generate annual revenues of approximately $29.7 million or C$40.3 million in 2023. Operating, general and administrative expenses are expected to reach $7.1 million. This represents $9.6 million Canadian during the same period.

The effects of the Inflation Reduction Act

The acquisition of the remaining shares of Mountain Air is financed by the proceeds from the sale of safe harbour solar modules. In 2022, Mountain Air sold its shares due to the release of theInflation Reuction Act. Innergex obtaining tax incentives for its projects compared to the previous tax incentive program.

Mountain Air has a capacity of 138MW. The six wind farms have power purchase agreements with a remaining term of 10 years. The Idaho Power Company thus has 100% of the electricity produced. Prices are attractive, rising from $90/MWh in 2023 to $120.9/MWh in 2032.

Innergex is an independent renewable energy producer with operations in Canada, the United States, France and Chile. Its asset portfolio currently consists of interests in 84 facilities with a total net capacity of 3,634MW. Finally, it has an energy storage capacity of 159MWh for 40 hydroelectric and 35 wind power facilities.

Register free of charge for uninterrupted access.

Publicite

Latest news

The United States imposes new sanctions on Iranian oil exported to China
Masdar signs agreement with Samruk-Kazyna for renewable energy projects in Kazakhstan
Hystar signs second contract in South Korea with Sunbo Unitech
Japanese refiners face hurdles diversifying crude imports amid OPEC+ production increase
AfDB approves €26.5mn for a 62 MWp solar power plant in Togo

Recently published in

Masdar signs agreement with Samruk-Kazyna for renewable energy projects in Kazakhstan

Masdar and Samruk-Kazyna are collaborating to develop renewable energy and storage projects in Kazakhstan, targeting 500 MW of baseload energy and up to 2 GW of storage capacity.
South Africa’s Ishwati Emoyeni wind project reaches financial close for 140MW
The Ishwati Emoyeni project, valued at ZAR4.9bn ($263mn), marks a first in South Africa with a power purchase agreement signed by licensed trader NOA Group and has now entered its construction phase.
en_1140290961540-4
South Africa’s Ishwati Emoyeni wind project reaches financial close for 140MW
The Ishwati Emoyeni project, valued at ZAR4.9bn ($263mn), marks a first in South Africa with a power purchase agreement signed by licensed trader NOA Group and has now entered its construction phase.
en_1140290961540-4
Eurus Energy begins construction of Hajang 5 wind farm at 1,080 metres altitude
Japanese group Eurus Energy has launched the construction of a 13.5 MW onshore wind farm in the Gangwon mountains, with commercial operations scheduled to start in November 2026.
en_1140290962540-3
Eurus Energy begins construction of Hajang 5 wind farm at 1,080 metres altitude
Japanese group Eurus Energy has launched the construction of a 13.5 MW onshore wind farm in the Gangwon mountains, with commercial operations scheduled to start in November 2026.
en_1140290962540-3
Ocean Winds launches final phase with first turbine installed at EMYN
Ocean Winds has installed the first turbine of the EMYN offshore wind farm, triggering the final phase of the project ahead of its commissioning at the end of 2025 and the creation of 85 permanent maintenance positions.
en_1140290958540-6
Ocean Winds launches final phase with first turbine installed at EMYN
Ocean Winds has installed the first turbine of the EMYN offshore wind farm, triggering the final phase of the project ahead of its commissioning at the end of 2025 and the creation of 85 permanent maintenance positions.
en_1140290958540-6

Copenhagen Infrastructure Partners sells 10% stake in Fengmiao I wind farm to Mitsui O.S.K.

Copenhagen Infrastructure Partners’ CI V fund has signed an agreement to divest 10% of its offshore wind project Fengmiao I to Mitsui O.S.K. Lines, with commissioning expected by the end of 2027.
The United Kingdom approves regulatory extension of seven offshore wind farms
The Crown Estate receives ministerial approval to amend seabed rights for seven offshore wind farms, paving the way for an additional 4.7GW of offshore wind capacity.
en_1140290955540-5
The United Kingdom approves regulatory extension of seven offshore wind farms
The Crown Estate receives ministerial approval to amend seabed rights for seven offshore wind farms, paving the way for an additional 4.7GW of offshore wind capacity.
en_1140290955540-5
ERG commissions 18 MW wind farm in northern France
Italian group ERG has completed an 18 MW wind farm in Pas-de-Calais, backed by a 20-year contract for difference and developed without external partners.
en_1140290948540-4
ERG commissions 18 MW wind farm in northern France
Italian group ERG has completed an 18 MW wind farm in Pas-de-Calais, backed by a 20-year contract for difference and developed without external partners.
en_1140290948540-4
The global wind turbine maintenance market to reach $59.67bn by 2030
Rising installations and the integration of predictive technologies are driving the wind turbine operations and maintenance market, projected to hit $59.67bn by 2030, according to MarketsandMarkets.
en_1140290949540-4
The global wind turbine maintenance market to reach $59.67bn by 2030
Rising installations and the integration of predictive technologies are driving the wind turbine operations and maintenance market, projected to hit $59.67bn by 2030, according to MarketsandMarkets.
en_1140290949540-4

Ørsted abandons Hornsea 4 in the United Kingdom due to excessive perceived risks

Danish group Ørsted halts development of its Hornsea 4 offshore wind project in the UK, citing financial and operational risks that no longer guarantee returns for shareholders.
Vestas beats expectations with €5mn profit in Q1 2025
Danish wind turbine manufacturer Vestas posts an unexpected net profit despite tariff tensions and confirms its 2025 outlook.
en_1140290962540-2
Vestas beats expectations with €5mn profit in Q1 2025
Danish wind turbine manufacturer Vestas posts an unexpected net profit despite tariff tensions and confirms its 2025 outlook.
en_1140290962540-2
Clearway invests $60mn in wind with acquisition of Tuolumne project
Clearway Energy strengthens its presence in Washington State with the purchase of the 137 MW Tuolumne wind project, securing a 15-year power purchase agreement with Turlock Irrigation District.
en_1140290973540
Clearway invests $60mn in wind with acquisition of Tuolumne project
Clearway Energy strengthens its presence in Washington State with the purchase of the 137 MW Tuolumne wind project, securing a 15-year power purchase agreement with Turlock Irrigation District.
en_1140290973540
Ørsted sells 24.5% stake in West of Duddon Sands offshore wind farm to Schroders Greencoat
Danish developer Ørsted has finalised the sale of 24.5% of its stake in the UK’s West of Duddon Sands wind farm to funds managed by Schroders Greencoat for GBP456.1mn ($571mn).
en_1140290972540
Ørsted sells 24.5% stake in West of Duddon Sands offshore wind farm to Schroders Greencoat
Danish developer Ørsted has finalised the sale of 24.5% of its stake in the UK’s West of Duddon Sands wind farm to funds managed by Schroders Greencoat for GBP456.1mn ($571mn).
en_1140290972540

The first caissons of Belgium’s energy island successfully installed in the North Sea

The Princess Elisabeth energy island project advances with the placement of two caissons, launching a key phase of marine civil engineering off the Belgian coast.
Equinor challenges the halt of its Empire Wind project in the United States
Equinor condemned the mid-April suspension of its offshore wind farm Empire Wind 1 near New York, a $2.5bn project halted by U.S. authorities, labelling the move illegal.
en_1140290954540-17
Equinor challenges the halt of its Empire Wind project in the United States
Equinor condemned the mid-April suspension of its offshore wind farm Empire Wind 1 near New York, a $2.5bn project halted by U.S. authorities, labelling the move illegal.
en_1140290954540-17
The wind shifts: Chinese OEMs struggle to gain traction in the European market
Despite turbines priced 30 to 40% lower, Chinese manufacturers struggle to overcome credibility barriers hindering their progress in the European wind sector.
en_1140290962540-12
The wind shifts: Chinese OEMs struggle to gain traction in the European market
Despite turbines priced 30 to 40% lower, Chinese manufacturers struggle to overcome credibility barriers hindering their progress in the European wind sector.
en_1140290962540-12
Greenvolt sells 83.2 MW wind farm to Enea Nowa Energia for €174.4mn
Greenvolt Power has finalised the sale of the Pelplin wind farm in Poland to Enea Nowa Energia for €174.4mn, reinforcing its large-scale renewable asset monetisation strategy.
en_1140291004540-2
Greenvolt sells 83.2 MW wind farm to Enea Nowa Energia for €174.4mn
Greenvolt Power has finalised the sale of the Pelplin wind farm in Poland to Enea Nowa Energia for €174.4mn, reinforcing its large-scale renewable asset monetisation strategy.
en_1140291004540-2

The first He Dreiht turbine installed at Germany’s largest offshore wind farm

EnBW’s He Dreiht project reaches a major milestone with the installation of the first 15 MW Vestas turbine, marking progress in the construction of the 960 MW wind farm.
RWE launches construction of 22.8 MW wind farm in Germany
RWE has started work on a new 22.8 megawatt onshore wind farm in Papenhagen, northeastern Germany, after winning a tender from the Federal Network Agency.
en_1140291005540-2
RWE launches construction of 22.8 MW wind farm in Germany
RWE has started work on a new 22.8 megawatt onshore wind farm in Papenhagen, northeastern Germany, after winning a tender from the Federal Network Agency.
en_1140291005540-2
China’s wind and solar capacity surpasses thermal power for the first time
China has reached a historic energy milestone with wind and solar capacity now exceeding that from thermal sources, amid an acceleration of new installations.
en_1140290996540
China’s wind and solar capacity surpasses thermal power for the first time
China has reached a historic energy milestone with wind and solar capacity now exceeding that from thermal sources, amid an acceleration of new installations.
en_1140290996540
Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia
Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
en_1140290960540-12
Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia
Mainstream Renewable Power sold its entire Colombian portfolio to Celsia, marking its exit from the country to focus operations on three strategic markets.
en_1140290960540-12

Connecticut: Study Reveals the Economic Impact of the Offshore Wind Industry

A recently published study shows that over 50 Connecticut companies are actively participating in offshore wind projects, with growth potential for 450 other companies in the region.
The United States suspends Equinor’s Empire Wind offshore wind project off New York
US authorities have ordered the halt of Equinor's Empire Wind 1 offshore wind project located off New York, citing insufficient environmental analysis according to the Biden administration. Construction had been underway since 2024.
en_1140290949540-11
The United States suspends Equinor’s Empire Wind offshore wind project off New York
US authorities have ordered the halt of Equinor's Empire Wind 1 offshore wind project located off New York, citing insufficient environmental analysis according to the Biden administration. Construction had been underway since 2024.
en_1140290949540-11
DEME acquires Havfram for €900 mn to strengthen its offshore wind position
Belgian group DEME has signed an agreement to acquire Norway’s Havfram for €900 mn, consolidating its fleet and global presence in the offshore wind market.
en_1140290967540-2
DEME acquires Havfram for €900 mn to strengthen its offshore wind position
Belgian group DEME has signed an agreement to acquire Norway’s Havfram for €900 mn, consolidating its fleet and global presence in the offshore wind market.
en_1140290967540-2
Energiequelle secures 143 MW in German onshore wind tender
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
en_1140290971540-2
Energiequelle secures 143 MW in German onshore wind tender
Developer Energiequelle has secured five projects totalling 143 MW through a national onshore wind tender, expanding its footprint across four German federal states.
en_1140290971540-2

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS