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Canadian IPP To Purchase Generation Assets in ERCOT

November 29,2017



Innergex Renewable Energy Inc. filed at FERC for authorization for a proposed transaction pursuant to which Innergex will acquire 100 percent of the issued and outstanding common shares of Alterra Power Corp.

Alterra indirectly owns electric generation facilities worldwide. In the United States, Alterra indirectly owns (i) EWGs located in ERCOT; and (ii) QFs located outside of ERCOT

In ERCOT, Alterra indirectly holds an ownership interest in one operating generating facility, and one non-energized project in construction (expected to begin commercial operations in the first quarter (“Q1”) of 2018).

The operating ERCOT generating facility is a 204-MW wind generator near Windthorst, Texas (the “Shannon Facility”) owned by Shannon Wind, LLC, a Delaware limited liability company (“Shannon”).

The non-operating ERCOT project is a 200-MW wind generation facility under development and construction near Priddy, Texas (the “Flat Top Project”) owned by Flat Top Wind I, LLC, a Delaware limited liability company (“Flat Top”)

Innergex is a Canadian independent renewable power producer that develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms, with operations in Canada (Quebec, Ontario, and British Columbia), France, and the United States. Innergex has a gross capacity of approximately 1,781 MW of electric generation in operation in Canada, France, and the United States

In the United States, Innergex indirectly owns Horseshoe Bend Hydroelectric Company, a Delaware corporation (“Horseshoe Bend Hydro”), which owns a 9.5-MW hydroelectric generating facility located in Idaho (the “Horseshoe Bend Facility”). Horseshoe Bend Hydro has self-certified the facility as a qualifying small power production facility (“QF”). The Horseshoe Bend Facility is interconnected with Idaho Power Company (“Idaho Power”), and Idaho Power purchases all of the electric output from the Horseshoe Bend Facility pursuant to a power purchase agreement with an initial contract term of 35 years beginning in September 1995.

Tags:
Texas   M&A   ERCOT   Innergex   Alterra Power  

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