Type Public Industry Electric generation Headquarters Canada Revenue 180.9 billion CAD Total equity 687.9 billion CAD | Traded as TSX: INE Founder Gilles Lefrançois Founded 1990 Total assets 2.324 trillion CAD | |
 | ||
Genre Independent Power Producer Key people Michel Letellier, President & CEO
Jean La Couture, Chairman Stock price INE (TSE) CA$ 14.28 +0.16 (+1.13%)10 Mar, 4:00 PM GMT-5 - Disclaimer Subsidiaries Cartier Wind Energy, Cloudworks Energy Profiles | ||
Innergex Renewable Energy (TSX: INE) is a developer, owner and operator of run-of-river hydroelectric facilities, wind energy, and solar farms in North America. While many of the firm's operational assets are located in its home province of Québec, it has expanded into Ontario, British Columbia, and Idaho.
Contents
Business segments
The company has four reportable segments: hydroelectric production, wind power production, solar power production, and site development and management. Through its energy production segments it sells electricity produced from its hydroelectric facilities, wind farms, and solar farms in operation to publicly owned entities. Through its site development and management segment, the Company develops energy production facilities to the operational stage and then manages them.
Corporate history
Innergex Renewable Energy was founded in 1990 by Gilles Lefrançois under the name Innergex GP in response to the Québec government's call for private sector bids to develop small hydro generation facilities. The firm went on to develop four of its own projects (Saint-Paulin, Chaudière, Batawa and Pontneuf 1-2-3) and acquire another (Montmagny) before transferring these assets into the Innergex Renewable Energy Income Fund, which listed on the Toronto Stock Exchange in 2003.
In 2004, Innergex joined forces with TransCanada Corporation to bid on a Hydro-Québec call for tender for 1,000 MW of wind power. The two companies set up a joint venture, Cartier Wind Energy, with Innergex holding a 38% stake. In 2005, Cartier signed 20-year power purchase agreements for 739.5 MW to be generated at six locations on the Gaspé Peninsula. Five of the six projects were built between 2006 and 2012, including the 211.5 MW Gros-Morne Wind Farm, which became Canada's largest at the time of its commissioning, in late 2012.
Power projects controlled by Innergex Renewable Energy
Innergex currently operates 28 renewable energy generation facilities: 22 run-of-river hydro plants, five wind farms and one solar farm. These projects have a combined net capacity of 577 MW.