Thursday, April 7, 2011

Innergex acquires of 27-MW PV project in Ontario ADP News Renewable Energy TrackApril 6, 2011 Canadian Innergex Renewable Energy (TSE:INE) said today it would further diversify its assets with the acquisition of a 27-MW solar photovoltaic (PV) project

RESOP. NOTE OFFTAKE VALUE IN MID CONSTRUCTION

Subject: Innergex acquires of 27-MW PV project in OntarioADP News Renewable
Energy TrackApril 6, 2011 Canadian Innergex Renewable Energy (TSE:INE) said
today it would further diversify its assets with the acquisition of a 27-MW
solar photovoltaic (PV) project in

http://www.electroiq.com/index/display/pv-wire-news-display/1393601504.html?
cmpid=ENLPVTimesApril72011

Innergex acquires of 27-MW PV project in OntarioADP News Renewable Energy
TrackApril 6, 2011 Canadian Innergex Renewable Energy (TSE:INE) said today
it would further diversify its assets with the acquisition of a 27-MW solar
photovoltaic (PV) project in Ontario from global solar power plants maker
Enfinity.The company has agreed to buy the Stardale project for CAD 11.1
million (USD 11.6m/EUR 8.1m). Enfinity will remain as the engineering,
procurement and construction contractor of the facility and take up its
operation and maintenance when completed.The construction of the
ground-mounted PV array system, located in the Russel county, started in
November 2010, with completion scheduled for February 2012. The facility
will include 144,060 polycrystalline PV modules and 54 inverters and will
produce around 39 GWh, enough to meet the needs of some 2,600 local
households. Output will be sold at a price of CAD 420 per MWh to the Ontario
Power Authority under three 20-year Renewable Energy Standard Offer Program
Contracts (RESOP).Innergex expects that the project will be accretive to
free cash flow per share from 2012 on. During the first full year of
operation, the facility is to bring CAD 15 million in earnings before
interest, tax, depreciation and amortisation (EBITDA).(CAD 1 = USD 1.042/EUR
0.730) Copyright 2011 AII Data Processing Ltd.All Rights Reserved ADP
News Renewable Energy Track Wire News provided by Photovoltaics
World Article Categories: Photovoltaics   Test and Reliability
Sent via BlackBerry from T-Mobile

No comments: