2013 Annual report

2013 Annual report

We are part of the solution

Renewable energy for a sustainable future
From hydroelectric facilities to wind and solar farms, discover Innergex’s activities.
We are part of the solution
Michel Letellier, President and Chief Executive Officer, positions Innergex as part of the solution to climate change.
Towards a greener future
Innergex assumes a leadership role in advocating for the development of a strong and sustainable renewable energy industry in Canada.
Viger-Denonville: The project of an entire community
The story of the Viger-Denonville wind farm.
By doing something different
The story of the Kwoiek Creek run-of-river hydroelectric project.
Partnerships come in all shapes and sizes
Innergex characterizes partnerships as “shared efforts for shared success”.
To be sustainable, we must take responsibility for the environment
Innergex has made environmental sustainability the backbone of its development strategy.
Dividends and interest rates
Jean La Couture, Chairman of the Board, addresses the company’s dividend distribution and exposure to rising interest rates.
Disclaimer
Forward-looking information and non-IFRS disclaimer.

Highlights

May 10, 2013

New wind project under development

Innergex's partner, the Assembly of Mi'gmaq communities of Quebec, is allocated 150 MW for a wind energy project on the Gaspé Peninsula in Quebec. In December 2013, the partners signed a letter of intent with Hydro-Québec Distribution for a 20-year power purchase agreement, subject to an order-in council by the Quebec government. Commercial operation of this project is expected to begin in 2016.
July 25, 2013

Hydro acquisition in Quebec

Innergex completes the acquisition of the Magpie run-of-river hydroelectric facility, which has an installed capacity of 40.6 MW and long-term average annual production of 185 GWh.
December 20, 2013

Included in several S&P/TSX indices

During the quarterly review of the S&P/TSX index family, Innergex is added to the S&P/TSX Composite Index, as well as the S&P/TSX Composite Dividend Index, the S&P/TSX Equity Income Index and the S&P/TSX Composite Low Volatility Index. The Company was already included in the S&P/TSX SmallCap Index and the S&P/TSX Renewable Energy and Clean Technology Index.
February 2014

Commissioning of two hydro facilities in British Columbia

Innergex commissions two new hydroelectric facilities in British Columbia: the 17.5 MW Northwest Stave River facility, acquired during the Cloudworks acquisition in 2011 as a development project, and the 49.9 MW Kwoiek Creek facility, developed in partnership with the Kanaka Bar Indian Band. These facilities were completed on time and on budget in December 2013 and commissioned effective December 18, 2013 and January 1, 2014, respectively.
February 2014

Active on the financing front

Innergex has remained active in the financial markets in 2013. In May, it closed $72 million in project financing for the Northwest Stave River hydro facility; in June, it successfully refinanced the Carleton wind farm with $53 million in project-level debt and extended its $425 million revolving term credit facility to 2018; and in August, the company and its joint-venture partner secured $62 million in project financing for the Viger-Denonville community wind farm.