Innergex Reaches a Key Milestone for Two Solar Projects in France

Innergex Renewable Energy Inc. has announced a significant milestone in its renewable energy portfolio with the addition of the 13 MW La Cense wind project in France. This development not only expands Innergex's footprint in Europe but also aligns with its strategic goals of geographical and technological diversification, operational efficiency, and long-term revenue stability.

The La Cense wind project, located in the Oise department in France, is a key addition to Innergex's portfolio. The project is being managed by Innergex France, a joint subsidiary with Crédit Agricole Assurances and Crédit Agricole Centre-Est. This initiative marks Innergex France's first development acquisition since the minority sale of its shares to Crédit Agricole Assurances and Crédit Agricole Centre-Est. The project is currently under development, with a goal of achieving commercial operations in 2026.

One of the most compelling aspects of the La Cense wind project is its proximity to the Bois des Cholletz operating wind farm. This geographical advantage creates significant operational synergies, allowing Innergex to streamline operations, share resources, and reduce costs. As Michel Letellier, President and Chief Executive Officer of Innergex, noted, "This investment meets our performance objectives, and the La Cense wind project complements well our existing portfolio in France. Its proximity to our Bois des Cholletz wind farm and other potential future developments in the area creates synergies that boost operational efficiency and integrate seamlessly into our growing portfolio."

The project also benefits from a 20-year power purchase agreement with EDF, guaranteeing long-term, stable revenues. This agreement is crucial for Innergex's strategy of generating sustainable cash flows and providing an attractive risk-adjusted return on invested capital. The financial stability provided by this agreement aligns with Innergex's approach to building shareholder value through disciplined growth and strategic investments.



The addition of the La Cense wind project is not just about expanding Innergex's portfolio; it is also about reinforcing its strategic partnership with Crédit Agricole Assurances and Crédit Agricole Centre-Est. This partnership is a significant step forward in advancing renewable energy in France and underscores Innergex's commitment to a greener future. As Letellier stated, "This development acquisition is a significant step forward in our strategic partnership and reinforces our commitment to advancing renewable energy in France."

Innergex's approach to renewable energy is holistic, encompassing hydroelectric facilities, wind farms, solar farms, and energy storage facilities. The La Cense wind project adds to this diverse mix, further solidifying Innergex's position as a leader in the renewable energy sector. With a portfolio that includes interests in 90 operating facilities with an aggregate net installed capacity of 3,707 MW, Innergex is well-positioned to continue its growth trajectory.

Looking ahead, Innergex is poised for continued success. The company's strategic execution in 2024, including the addition of 560 MW in BC Hydro's call for power in British Columbia and the commissioning of the 330 MW Boswell Springs wind farm in Wyoming, demonstrates its ability to execute efficiently and deliver results. With a solid foundation, a strong portfolio, and a dedicated team, Innergex is continuing its momentum and building on its success.

In conclusion, the addition of the La Cense wind project is a key milestone for Innergex, aligning with its strategic goals and reinforcing its commitment to renewable energy. The project's operational synergies, long-term revenue stability, and strategic partnership make it a valuable addition to Innergex's portfolio, positioning the company for continued growth and success in the renewable energy sector.