Edition:
India

Innergex And Hydro-Québec Announce A Strategic Alliance And A Private Placement


Thursday, 6 Feb 2020 

Feb 6 (Reuters) - Innergex Renewable Energy Inc ::INNERGEX AND HYDRO-QUÉBEC ANNOUNCE A STRATEGIC ALLIANCE AND A PRIVATE PLACEMENT.INNERGEX RENEWABLE ENERGY - HYDRO-QUÉBEC HAS COMMITTED AN INITIAL $500 MILLION TO STRATEGIC ALLIANCE WITH CO.$661 MILLION INVESTED BY HYDRO-QUÉBEC THROUGH A PRIVATE PLACEMENT IN INNERGEX.INNERGEX RENEWABLE ENERGY - PURSUANT TO PRIVATE PLACEMENT, CO HAS ISSUED 34.6 MILLION COMMON SHARES TO HYDRO-QUÉBEC, AT A PRICE OF $19.08 PER SHARE.INNERGEX RENEWABLE ENERGY - CO ALSO AGREED TO PROVIDE HYDRO-QUÉBEC WITH RIGHT TO NOMINATE 2 CANDIDATES TO CO'S BOARD.INNERGEX RENEWABLE ENERGY - EXPECTS TO USE $50 MILLION FROM PRIVATE PLACEMEMNT TO FUND DEVELOPMENT OF 200 MW HILLCREST SOLAR PHOTOVOLTAIC PROJECT.INNERGEX RENEWABLE ENERGY - EXPECTS TO USE ABOUT $275 MILLION FROM PLACEMEMNT TO FUND EQUITY REQUIREMENTS RELATED TO POTENTIAL ACQUISITION OF 2 PROJECTS. 

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23 Oct 2020