Connection

popular articles

Kazakhstan and Hungary Agree on Oil Exports via Druzhba Pipeline
Luxcara chooses Ming Yang for 18.5MW offshore wind turbine project
Adani Power and Green Energy join forces for 6600 MW of power in Maharashtra
Norway world leader in automotive electrification towards a sustainable future
Germany suspends carbon credits in China on suspicion of massive fraud

Mountain Air fully acquired by Innergex

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

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

Libya: Economic recovery dependent on oil, but weakened by lack of reforms
Eni and YPF sign a memorandum of understanding for the evaluation of the liquefied natural gas project in Argentina
bp successfully loads first LNG cargo from Greater Tortue Ahmeyim project
Catalyze secures $85 million in tax equity investment from RBC to advance solar projects in the United States
EIB and Iberdrola sign loans to enhance energy storage infrastructure in Spain

Recently published in

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

New wind installations in the United States fall to lowest level in a decade

The United States recorded its lowest volume of wind installations in a decade in 2024, according to Wood Mackenzie data, due to tax timing effects and persistent regulatory uncertainty.
Sunly, VALOREM and Deep Wind Offshore launch 1 GW offshore wind project in Estonia
Three European energy sector players are partnering to develop an offshore wind farm near Saaremaa, reinforcing Estonia’s strategic position in the Baltic region.
en_1140290968540-2
Sunly, VALOREM and Deep Wind Offshore launch 1 GW offshore wind project in Estonia
Three European energy sector players are partnering to develop an offshore wind farm near Saaremaa, reinforcing Estonia’s strategic position in the Baltic region.
en_1140290968540-2
Sanofi signs 20-year contract with RWE for 21 GWh wind power supply
RWE has signed a 20-year electricity supply agreement with Sanofi, committing to deliver 21 GWh annually from a wind farm located in the Marne region.
en_1140290981540
Sanofi signs 20-year contract with RWE for 21 GWh wind power supply
RWE has signed a 20-year electricity supply agreement with Sanofi, committing to deliver 21 GWh annually from a wind farm located in the Marne region.
en_1140290981540
RWE wins 151 MW in latest French onshore wind tender
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
en_1140290972540-2
RWE wins 151 MW in latest French onshore wind tender
RWE led the latest onshore wind tender launched by the Commission de régulation de l’énergie, securing seven projects representing a prorated capacity of 151 megawatts.
en_1140290972540-2

French court suspends wind farm after death of golden eagle

The Montpellier court has ordered a one-year suspension of the Bernagues wind farm, finding Énergie Renouvelable du Languedoc responsible for the death of a golden eagle, a protected species, in January 2023.
HSM Offshore Energy secures EPCIC contract for East Anglia TWO
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.
en_1140290971540
HSM Offshore Energy secures EPCIC contract for East Anglia TWO
ScottishPower Renewables awards HSM Offshore Energy the design and construction of the offshore substation and its foundation for the East Anglia TWO wind farm off the Suffolk coast.
en_1140290971540
Yeu-Noirmoutier: €2.5bn for an offshore wind farm with industrial pace
Ocean Winds is leading the installation of 61 offshore wind turbines off the Vendée coast, with up to 600 workers mobilised in Saint-Nazaire and commercial commissioning targeted by the end of November.
en_1140290972540
Yeu-Noirmoutier: €2.5bn for an offshore wind farm with industrial pace
Ocean Winds is leading the installation of 61 offshore wind turbines off the Vendée coast, with up to 600 workers mobilised in Saint-Nazaire and commercial commissioning targeted by the end of November.
en_1140290972540
Chantiers de l’Atlantique doubles revenue with offshore wind power push
Chantiers de l’Atlantique invests €100 mn to expand its production capacity in offshore wind, a strategic segment now central to its industrial recovery.
en_1140290965540
Chantiers de l’Atlantique doubles revenue with offshore wind power push
Chantiers de l’Atlantique invests €100 mn to expand its production capacity in offshore wind, a strategic segment now central to its industrial recovery.
en_1140290965540

Montpellier court orders temporary shutdown of EDF-run wind farm

The Aumelas wind farm, operated by EDF Renouvelables, must halt operations for four months following a court ruling tied to the protection of endangered species in Hérault.
PNE Group secures approval for 185 MW wind and solar projects in Germany
PNE Group has obtained the necessary permits to develop two onshore wind farms in Hesse and a ground-mounted solar power plant in Brandenburg, totalling 184.8 MW of capacity.
en_1140290949540-5
PNE Group secures approval for 185 MW wind and solar projects in Germany
PNE Group has obtained the necessary permits to develop two onshore wind farms in Hesse and a ground-mounted solar power plant in Brandenburg, totalling 184.8 MW of capacity.
en_1140290949540-5
VSB France commissions 12 MW wind farm in Ille-et-Vilaine for Blue EnerFreeze
The La Lande wind farm, developed by VSB France for Blue EnerFreeze, has begun operations in Ille-et-Vilaine with a capacity of 12 MW, intended to cover 6% of STEF Group's annual electricity consumption in France.
en_1140290953540-3
VSB France commissions 12 MW wind farm in Ille-et-Vilaine for Blue EnerFreeze
The La Lande wind farm, developed by VSB France for Blue EnerFreeze, has begun operations in Ille-et-Vilaine with a capacity of 12 MW, intended to cover 6% of STEF Group's annual electricity consumption in France.
en_1140290953540-3
French court blocks major onshore wind farm led by EDF in the Ardennes
A 63-turbine project developed by EDF Renouvelables and Renner Energies was cancelled on appeal in Nancy due to visual saturation, despite over 20 years of development.
en_1140290944540-3
French court blocks major onshore wind farm led by EDF in the Ardennes
A 63-turbine project developed by EDF Renouvelables and Renner Energies was cancelled on appeal in Nancy due to visual saturation, despite over 20 years of development.
en_1140290944540-3

Aker Horizons and Mitsui secure €128mn funding for Mainstream

Aker Horizons and Mitsui have finalised a structured financing agreement with DNB to support Mainstream Renewable Power’s targeted strategy in South Africa, Australia and the Philippines.
Octopus Energy acquires 10% stake in East Anglia One offshore wind farm from Macquarie
Octopus Energy has acquired a 10% stake in the East Anglia One offshore wind farm, expanding its European portfolio and surpassing $2 billion in offshore wind investments.
en_1140291019540
Octopus Energy acquires 10% stake in East Anglia One offshore wind farm from Macquarie
Octopus Energy has acquired a 10% stake in the East Anglia One offshore wind farm, expanding its European portfolio and surpassing $2 billion in offshore wind investments.
en_1140291019540
Potentia Energy completes acquisition of 1 GW Australian portfolio
Potentia Energy has finalised the acquisition of more than 1 gigawatt of wind, solar and storage assets in Australia, consolidating its position among the country’s leading renewable electricity producers.
en_1140291009540
Potentia Energy completes acquisition of 1 GW Australian portfolio
Potentia Energy has finalised the acquisition of more than 1 gigawatt of wind, solar and storage assets in Australia, consolidating its position among the country’s leading renewable electricity producers.
en_1140291009540
Eolink to deploy floating wind demonstrator for grid connection in 2027
French company Eolink plans to launch a 5 MW floating wind turbine in Brest, targeting a 2027 grid connection as part of the sector’s industrial progression.
en_1140290958540-2
Eolink to deploy floating wind demonstrator for grid connection in 2027
French company Eolink plans to launch a 5 MW floating wind turbine in Brest, targeting a 2027 grid connection as part of the sector’s industrial progression.
en_1140290958540-2

Boralex commissions its first 106 MW wind farm in Scotland

Boralex has launched operations at the 106 MW Limekiln Wind Farm in Scotland, marking its first operational facility in the United Kingdom, supported by a 15-year public contract and a power purchase agreement.
Nexif Ratch Energy secures key permit for 500 MW offshore wind project in the Philippines
Nexif Ratch Energy has received preliminary environmental approval from the Philippine government to initiate technical studies for its 500 MW San Miguel Bay offshore wind project.
en_1140290950540
Nexif Ratch Energy secures key permit for 500 MW offshore wind project in the Philippines
Nexif Ratch Energy has received preliminary environmental approval from the Philippine government to initiate technical studies for its 500 MW San Miguel Bay offshore wind project.
en_1140290950540
Goldwind posts 40% net profit surge driven by exports
Chinese wind turbine manufacturer Goldwind reported strong 2024 results, fuelled by accelerated overseas sales amid a slowdown in the domestic market.
en_1140290950540-21
Goldwind posts 40% net profit surge driven by exports
Chinese wind turbine manufacturer Goldwind reported strong 2024 results, fuelled by accelerated overseas sales amid a slowdown in the domestic market.
en_1140290950540-21
Vattenfall begins construction of Germany’s largest offshore wind farm
Swedish group Vattenfall has approved the final investment for two major offshore projects in the North Sea, with construction scheduled to start in 2026 and operations expected by 2028.
en_1140290969540
Vattenfall begins construction of Germany’s largest offshore wind farm
Swedish group Vattenfall has approved the final investment for two major offshore projects in the North Sea, with construction scheduled to start in 2026 and operations expected by 2028.
en_1140290969540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS