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Innergex (TSX:INE) gets going wind energy project

Energy, Market News
15 March 2023 15:10 (EDT)

Innergex Renewable Energy (INE) has been selected in the Request for Proposals (RFP) process by the Government of Quebec.

Innergex and the Mi’gmawei Mawiomi Business Corporation (MMBC) will work on this joint wind energy project.

The project will be on public lands in the Gaspésie region of Quebec and will have a total capacity of up to 150 megawatts (MW).

The wind energy project is expected to contribute to Quebec’s goal of generating 50 per cent of its electricity from renewable sources by 2030.

Moving on to the next phase, permits and approvals will need to be obtained as well as environmental studies.

Innergex and MMBC will also work with Hydro-Quebec, the provincial utility, to finalize the terms of the power purchase agreement.

Innergex hopes to increase its renewable energy capacity and expand its presence in Quebec, where it already has wind and hydroelectric projects.

As for MMBC, the project represents an opportunity to create economic opportunities for the Mi’gmaq communities in the region.

Innergex Renewable Energy (INE) is down 2.05 per cent, trading at C$14.79 at 2:47 pm EDT.

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