Innergex and Hydro-Québec to acquire Curtis Palmer from Atlantic Power for $388m.

Innergex, an independent renewable power producer, and Hydro-Québec, a public utility that manages the generation, transmission and distribution of electricity in the Canadian province of Quebec, agreed to acquire Curtis Palmer, a hydroelectric portfolio, from Atlantic Power, an independent power producern, for $388m. “We are thrilled to announce this first joint acquisition with Hydro-Québec under the Strategic Alliance. The acquisition of Curtis Palmer represents an opportunity for Innergex to apply its 30 years of expertise in managing small run-of-river hydroelectric facilities, while leveraging Hydro-Québec’s experience in New York to get a foothold in a new market. We are also announcing today an equity financing that will be used to fund the purchase price of this acquisition and further our expansion and diversification efforts. We are very pleased with this support for Innergex and look forward to further grow in our Strategic Alliance with Hydro-Québec," Michel Letellier, Innergex President and CEO.