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The 100 MW community wind project of Innergex, the RCM of Lotbinière and the Abenaki Councils of Odanak and Wôlinak selected by Hydro-Québec

Press Release

January 26, 2024

  • Partnership between Innergex (50%), the RCM of Lotbinière (45%), the Abenaki Council of Odanak (2.5%) and the Abenaki Council of Wôlinak (2.5%)
  • Community and Indigenous partnership valued by Innergex to support its growth in Canada while promoting local participation in economic benefits
  • Continuous cash flow for 30 years, indexed to inflation

LONGUEUIL, Quebec – Innergex Renewable Energy Inc. (TSX: INE) (“Innergex” or the “Corporation”), the Regional County Municipality of Lotbinière (“RCM of Lotbinière”) and the Abenaki Councils of Odanak and Wôlinak are pleased to announce that their 100 MW wind project has been selected in Hydro-Québec’s request for proposals.

“The project’s selection following the call for tenders reflects our team’s success in developing competitive projects and collaborating with local players to support Hydro-Québec’s ambitions,” said Michel Letellier, President and Chief Executive Officer of Innergex. “We are proud to continue our diversification in collaboration with the RCM of Lotbinière and the Abenaki Councils of Odanak and Wôlinak. Innergex’s strength in forging lasting partnerships with local and Indigenous communities represents a competitive advantage and has been an essential component of our success in Canada since 1990. We are counting on our attributes as a partner of choice to contribute to the growth of renewable energy in our target markets, and to implement projects that will benefit the communities.”

“We are delighted that our territory has been given the green light by Hydro-Québec,” says Daniel Turcotte, Prefect of the RCM of Lotbinière. “The RCM of Lotbinière will benefit in many ways from the fruits of this regional project, particularly in terms of completing major development projects for our region. Social acceptability and the protection of agricultural land and activities are very important for our region, which is why, as a community partner alongside the company Innergex and the Abenaki Councils of Odanak and Wôlinak, we will ensure that the project, at all stages, is economically, environmentally and socially acceptable. We remain attentive to the community’s concerns.”

“This wind project represents much more than a renewable energy source for the W8banaki Nation – it symbolizes our commitment to energy self-sufficiency and sustainable economic development,” said Rick O’Bomsawin, Chief of the Abenaki Council of Odanak. “Job creation, the involvement of regional businesses and our partnership with Innergex reinforce our position as responsible stewards of the Ndakina, our territory, contributing to an energy future that respects our heritage and ensures the prosperity of our future generations.”

“The selection of our wind project by Hydro-Québec is a great success for the W8banaki Nation,” said Michel R. Bernard, Chief of the Abenaki Council of Wôlinak. “Beyond providing clean energy, this project will create new long-term, quality employment opportunities for the people of our community. What’s more, our collaboration with Innergex and the RCM of Lotbinière reflects our shared vision of a sustainable energy future, placing the W8banaki Nation at the heart of this transition.”

Scheduled for commercial operation in late 2028, the power purchase agreement with Hydro-Québec (S&P credit rating: AA-) is expected to be structured as a 30-year take-or-pay contract, indexed to a predefined percentage of the Consumer Price Index (“CPI”). Once commissioned, the project will generate enough electricity to power the equivalent of 20,000 households.

Construction of the MRC Lotbinière wind project will require the creation of around 200 jobs and will involve the participation of local and regional businesses. Long-term, permanent, skilled jobs will also be created during the operating period.

Interconnection and collector system costs will be reimbursed by Hydro-Québec when the facility is commissioned.

The project is subject to the execution of contracts with Hydro-Québec and suppliers, and to the successful completion of permit application processes and regulatory requirements.

To learn more, visit innergex.com or connect with us on LinkedIn.

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For information
Innergex
Karine Vachon
Senior Director – Communications
+1 438 887-0912
kvachon@innergex.com
www.innergex.com

Naji Baydoun
Director – Investor Relations
+1 438 871-7067
nbaydoun@innergex.com

RCM of Lotbinière

Julie-Ann Charest
Communications and
and office automation
418 926-3407, ext. 242
communications@mrclotbiniere.org

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